Why is it the new expected norm for TV shows to have 2-3+ years between seasons?

I have a hard time maintaining interest in a show when there's a 3 year gap between seasons. It's not like the seasons are longer, quite the opposite. Shogun for example came out in February of 2024, and they haven't even BEGUN production of season 2 yet. It won't be released until 2027.

By the time season 3 of Euphoria is released, it will have been SEVEN years since season 1 came out in 2019.