I hope not.
Also, aren't the big budget films flopping left and right too? And, If big budget films continue to fail at the box office, I believe Bollywood will be compelled to produce content-oriented, low-budget films. In my opinion, this is the next step in Bollywood's evolution.
Historically, Bollywood has had a steadfast notion that only extravagant, high-budget films with audacious sets and shooting locations can attract audiences. However, this mindset has had a negative impact on the industry, as it discourages the production of high-quality, low-budget films, which in turn perpetuates the audience's preference for big-budget films.
We need to, as an industry, shift towards content-oriented films to compete with South Indian films. Unlike Bollywood, most South Indian films (such as Mollywood, for example) are fueled by strong writers. I feel that Bollywood does not empower its writers and instead focuses on superficial elements such as item numbers, cameos, and dance numbers in exotic locations. This approach often involves high costs, in addition to paying a hefty fee to the lead actor, resulting in films that are doomed to fail at the box office. ¯\_(ツ)_/¯
PS: To be clear, I'm not saying Bollywood should stop making extravagant films entirely, as they are a part of Bollywood's identity. However, I believe the industry should take recent trends as a learning point and consider supporting and encouraging content-oriented films. There is a clear audience subgroup left untapped due to the lack of quality films, and I think Bollywood has the potential to tap into this audience by producing more content-oriented films alongside its more extravagant offerings.
