Clearly audiences still have an appetite for movies, evident by Obsession and Backrooms. But are those audiences the same mass audiences that were showing out for Force Awakens, Infinity War, etc.? I think the dynamic has changed…you’re now getting throngs of “movie fans” rather than “populist entertainment fans,” and generic blockbuster spectacle doesn’t appeal to that new group. It’s unique stories, smart writing, clever plot set-ups, etc. that bring people in (also see the performance of Marty Supreme this year vs Uncut Gems in 2019 as just one example). You need some buzz on Letterboxd, not Access Hollywood, to get some box office traction these days.
So while this movie is a disappointment I think this marks a really good trend for movies overall. The message being sent is that there’s a group that’ll keep theaters alive…but that group wants your small/mid-budget originals. It’s like a massive course correction from the peak of the MCU. I’m personally here for it, even if it means sacrificing theatrical Star Wars content.