The 62-year-old actor played the title character in Prime Video's Marvel series Spider-Noir and Marvel superhero Ghost Rider in the 2007 film of the same name and 2012 sequel Ghost Rider: Spirit of Vengeance.
He believes the film franchise has lost its way in recent years and is too focused on action scenes.
Speaking at Fan Expo Dallas, he said: "It started out, in my view, terrific. Some of the early stories were marvellous.
"The way that they wove all the threads together and told the different character stories and backstories."
"Lately - I do say this with love, when I see these 50-plus and otherwise intelligent and remarkably gifted thespians putting on these ridiculous outfits and getting ready for the fight — let's face it, it's all cutting to the fight — it's hard for me not to be reminded that the MCU is becoming a well-funded and glorified WWE."
Cage called for Marvel to bring its focus back to telling stories, admitting that was the appeal of superhero detective series Spider-Noir, which was set in 1930s New York and in which he played down-on-his-luck private investigator Ben Reilly, aka The Spider.
"One of the things I liked about Spider-Noir was it wasn't cut into the fight. It was a detective story," he said.
"There was a mystery there. And I would like to see (MCU) get back to telling the stories and not just cutting to the wrestling match."
Although Spider-Noir was cancelled after just one season, Cage previously insisted he wasn't upset that it hadn't been renewed because the story he wanted to tell had been told.
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