I've never not found something that has been publicly released on it. Though, I don't typically stray too far from the mainstream path for the media I'm looking for.
I can absolutely find new stuff on there. It took Project Hail Mary a little while to get on there, presumably because it was a cinema release only for quite a while but a good quality version popped up after a couple of weeks, and a bad quality "guy holding a camcorder in the cinema" version showed up after about 1 week, IIRC
I don't recall exactly when it went onto streaming, but I'm pretty sure I got a good quality version before that. It may have been released for streaming in other regions earlier than I thought though, I don't keep super up to date with that sort of thing, as I generally don't watch movies super soon after they're released
I find the stream rips to be really shitty quality.. The original source is very low bitrate, compressed tae fuck. I find for stream rips from netflix for example I need to download a 4k rip in order to watch in 1080, and that's acceptable.
Torrenting is alive and well… for recent releases and new stuff. All the old stuff is pretty hard to find now. When demonoid was around you could find just about everything. The worst part is for a lot of it there isn’t a legal way to get them either.
That's the tragedy of the MAFIAA death throes period imo.. With all their lawsuits and bullshit they never even slowed down the big public trackers and torrents of the popular stuff they were trying to stop being shared.. Instead they killed loads of small private trackers which housed exquisitely curated collections of stuff that wasn't available anywhere else for neither love nor money.