I think doing a more authentic Shang-Chi, son of the racist caricature of Dr. Fu Manchu, could have been much much worse than what we got.
Also, Marvel putting butts in seats helps keep theaters open.
Formulaic movies being more successful than artsy films is a trope as old as Hollywood. “If you want to send a message call Western Union” puts a date stamp on just how old. I think indie movies of quality that could never be seen can now be found streaming somewhere, can’t really see MCU as the villain in movieland.