What happened to Technicolor? A brief history and why Technicolor still matters today

What is it about The Wizard of Oz (1939) that makes it so breathtakingly beautiful? Why don’t cartoons these days look anywhere near as spectacular as Disney’s Fantasia (1940)? And how was Martin Scorsese and his production team on The Aviator (2004) able to imbue their dashing Howard Hughes biopic with that uncannily authentic mid-20th century photographic fidelity? The answer …