Cinema moves in waves & Lucas/Spielberg's era was certainly not the 1st to push substance to the background behind sentimentality & spectacle. IMHO that ship was bound to sail with/without them. I doubt John Williams' overtly thematic scores would even have become as prominent then, without that move in style. (Just like we're moving away from it musically now) Many forget that one of his 1st scores in that vein was 1972's
The Poseidon Adventure. The shift toward that dynamic was already in motion really, & people were ready to eat it up when Lucas/Spielberg swooped in. They just amped it up to the max.
Idealized fantasy was Spielberg's whole schtick mostly, & for what he did there, I think he was doing it really well, but certainly it's not for everyone, least of all high art fans. If you want a more realistic child worldview,
Stand By Me grabs it pretty good from a Stephen King tale imho
I tend to think that him actually being able to make any viewer feel emotions for that hideously terrifying alien puppet (lol) is a sign of some true mastery of craft. Story? Nope we're not taking home much of that, but still... It's not an art solely about story imho. Cinema is primarily an audio/visual artform. So much so that some guys like Kubrick don't even make stories. That guy almost exclusively made cinematic concept art, off of a single notion, like "Indoctrination" as the whole point behind
Full Metal Jacket. There's no story there, just exploring that concept, on a living canvas.
That's one way to use the artform, another is to be a story forum, & yet another is to engage the audience in sensory spectacle. That they all compete in the same market is almost a tragedy really. It erroneously creates the impression that a filmmaker is required to be balancing all 3 in degrees of some kind. It's true that they can choose to, but I like to give some berth when judging that part of it, because it's always fluctuating, & if you fight it, you just end up looking like Scorcese griping about Marvel movies
The theater of a motion picture can be a painting, a novel, or a rollercoaster... or any combination thereof imho. It truly does possess the ability to be as much or as little of any & every artform ever known to man, & it's our culture that determines which rises to the top.