Each new video in a format does worse. Fatigue, or regression to the mean?

Novelty & durationHard

Problem. A format's first video hit 160M views. The next three in the format did 120M, 105M and 95M. A producer says the format is fatigued and should be retired. The channel's videos typically land around 90M. How do you tell real fatigue from regression to the mean?

Before you reveal: say your answer out loud, as if you were in the real interview — get your reasoning across clearly first. There is no single correct answer: reading what the interviewer is really after and defending your own thinking is what makes an answer strong.