I was thinking about the recent phases since Phase 5 is actually pretty damned strong when you take it in that context (despite its start), but the issue for me as far as phase 4-6 is it's hard to take them in that way. The lack of a solid 'event' film to end each phase, ala Avengers, really made them all bleed together for me. So I wanted to reexamine the post-Endgame releases phase by phase a little.
Phase 4 obviously struggled through Covid etc, but just looking at it as a whole is kinda interesting. Thinking back to Phase 1... I know everyone has their own opinion but I'm gonna try to get a more general consensus. Iron Man was a clear hit and well received, Incredible Hulk had a lackluster reception, Iron Man 2 was apparently too dependent on setting up Avengers for some reason but was a bigger hit, Thor was seen as weak but the world building and character work were solid, and First Avenger may have not been quite as accessible with its style but wasn't poorly received. Then of course Avengers blew up. But overall, not the massive hit factory of a phase some may remember it to be.
With Phase 4 we open with a pretty solid action movie about a character we've already mourned, a fun departure that some felt got too fantastic in the end, a more serious departure that wasn't well received at all, a fun and emotional nostalgia frolic that was very popular, and... well, I'm not even sure how MOM was received but I imagine it was better than my personal reaction to it, then a letdown of a sequel to Ragnarok, and finally a followup to one of Marvel's biggest solo projects that did a pretty good job of picking up the pieces of a real world tragedy. Not a really solid phase, but is it really weaker than phase 1? It's real handicap was probably not having a clear event film to wrap it all up. And by 'wrap it all up', I don't even mean connecting threads from all the films of the phase as much as uniting characters from them all. This phase also introduced tv shows that were connected.... kinda. The people behind MOM hadn't watched the show it directly followed, for instance. But WandaVision, Falcon & Winter Soldier, Loki season 1, What If, Hawkeye, Moon Knight, Ms Marvel, She Hulk, and two holiday specials (Werewolf By Night and GOTG) were released during this phase. I would argue that Thunderbolts, had they been able to release it in 2023, could have wrapped this phase up a little neater, bringing characters from Black Widow, F&WS, and even one from Phase 3, together. Or... something. I dunno. Taskmaster, Shang Chi, Sprite, Wong, Valkyrie, Kate Bishop, Scarlet Scarab, etc? I may be the only one, but to me the problem is not having that cap at the end.
Phase 5 started out with my least favorite MCU movie so far, and it seems like the public mostly felt the same. The rest of the phase, I'd argue, was really strong. A strong and heartfelt farewell to the original Guardians of the Galaxy, a fun teamup of the Marvels characters, a raunchy love letter to the Fox universe, an okay political thriller that's probably better if you hadn't watched Winter Soldier, and finally the big event teamup film people are saying is righting the ship.
When compared to Phase 2, I wonder if Phase 5 may stand a little taller. Iron Man 3 was a financial hit but a little polarizing with fans whether you're the world's biggest Mandarin fan, or you just like Tony in the suit more than out. Dark World is an easy punching bag, while Winter Soldier is often a massive asterisk for even the most ardent Marvel hater. Guardians of the Galaxy was certainly a well received debut, and Age of Ultron did well enough even if some fans took issue with plot points. Finally, Ant-Man was the little heist movie that could, taking a concept a lot of moviegoers found ridiculous and making it entertaining. A successful phase in the box office but a couple that left fans unsatisfied.
Again, they had shows as well. Secret Invasion, like with the movies, started the phase on a weak note, but Loki season 2 was solid. More What if, then Echo was already poised to be hated before it left the gate. Agatha was well received, Daredevil got mostly good marks, and we still have Iron Heart coming. The show side was more hit or miss.
Phase 6 starts next year with Fantastic Four, but Wonder Man is lurking out there somewhere as well. A few untitled releases that may not even be anything, Spider-Man Brand New Day, and a couple more massive team-up events. Doomsday and Secret Wars are likely to be the biggest movies Marvel has done yet, but the phase itself is lacking the bulk Phase 3 had, even if they use every single one of their reserved release dates. Phase 3 had eleven movies, most of which were really solid, well received, and successful. It's the phase that certified the studio as a hit machine. Phase 6 has eight dates reserved, by my count anyway, and not all of those will definitely yield an actual release. Beyond FF, Spider-Man, another season of Daredevil, and the two Avengers movies, phase 6 may see Black Panther 3, Shang Chi 2, Doctor Strange 3, Midnight Sons, the Champions (Young Avengers), and possibly even some mutants. On paper, that's a pretty incredible lineup that would make the early 1960s Marvel nod with pride.