Because no one can come up with original musicals nowadays.
That's not necessarily a problem - practically all the greatest musicals of the canon are adaptations. Name a big musical and it's likely an adaptation of an earlier play, film, or what have you.
The only big ones that come to mind that are arguably original that are in the public consciousness are Rocky Horror and Hamilton ( though that owes a great deal to a book so)
The bigger issue is the usage of highly recognizable materials and sticking hard to the original material - and also just the big corporate hands that have been filling out big theatres of late. Lots of techinically interesting musicals are coming out - really big polished things, like have you seen that King Kong puppet? But like most of all that junk is hollow despite the glitz and glitter.
We already had BTTF: The Musical, though.
https://www.youtube.com/watch?v=GheAd59anbU
I was going to post this, god damnit.
Back to the Future: The Musical — from Zemeckis, Gale, original Back to the Future composer Alan Silvestri, and Grammy winner Glen Ballard
Honestly if it's made by most of the original team, it could be a good musical still, Spamalot was an adaptation of Monty Python and the Holy Grail and it was pretty great even standing on it's own. Going to be cautiously optimistic about it.
https://youtu.be/Js-6Lx-SZso
gotta get...gotta get...gotta geeeeeet, BAAACK IN TIIIIIIIIIIIMMMMEEEEEE
*curtain drop*
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