Agree with you to a very large extent.
Plot, character, script, lighting and pace are all - to my mind - absolutely necessary core ingredients to what I term a good play, or a good movie.
That said, bloated budgets, special effects, (including but not confined to CGI), excessive violence, an over-reliance on good-looking apparently youthful beautiful creatures (rather than character actors with real lived-in faces - this applies to both male and female actors) and threadbare story lines are all off-putting.
It may be boring to say it, but I like a good story; and the elements that combine make up a good story have not changed in a few thousand years, irrespective of the medium used to tell it.