Does anyone else believe there is a "dumbing down" of Broadway going on?

One of my favorite activities is going to the theater. After recently visiting New York City a few weeks ago (probably the 12th time in the last 4 years, each time I've seen at least 3 plays), I've noticed that the productions presently being offered are, I don't have any other way of saying it, are somewhat low-brow. I'm not the most intellectual guy in the world, but I'm certainly not the dumbest...but when Broadway is putting on musicals touting "Based on the music of " and selling tails in collector souvenir cups, I get a bad taste in my mouth about the direction the theater world is going in.