The 79-year-old director, who helms one-movie-a-year, was in Cannes International Film Festival with his 46th feature film "Irrational Man", believes such movies are "big time wasters".
"I think it's terrible," he told Deadline about sequels.
"I think movies have gone terribly wrong ... And the big blockbusters for the most part are big time wasters. I don't see them. I can see what they are: eardrum-busting time wasters. I think Hollywood has gone in a disastrous path. It's terrible," Allen said.
The four-time Academy award-winning director is known for his gloomy world-view and in the interview he also touched upon how he still struggles as a creator.
Allen also revealed that he never watches his films once he completes them because he only spots mistakes in them.
"I never saw Annie Hall again, or Bananas or Manhattan or any of them. Because, you can only have regrets. If I was to screen any of my films now I would only see what I could have done, what I did badly, where I screwed up, how much worse it is than the way I remembered it. You're never going to think 'Oh, God, this thing is great.