To me, Apple TV+ seems more like a huge "cultural" marketing campaign, a not-so-obvious but still powerful way to get viewers to associate Apple with "good taste" by conveying great taste in movies, actors, directors, documentarians, musicians, etc.
Making every kind of content for every taste might work for Netflix and similar services. But not if you're trying to build/maintain a distinctive brand identity, like Apple is.
Ultimately, Apple just doesn't own the rights to all those evergreen IPs, like Star Wars, LOTR, recent blockbusters, etc. It's better off creating its own, new IPs.