Yes WB decided it would make more money by not releasing it (the movie industry is a fucking joke etc) until test screenings rated highly and that swelled into condemnation of WB’s decision which turned into a campaign to get it sold.
This movie will make money digitally I would imagine. Very much like He-man it’s probably a strategic purchase. I wish the industry would stop labelling movies flops when they don’t turn gate receipts into hundreds of millions in profit. The industry doesn’t work like that anymore and the constant negativity needs to go away. Coyote is a rare success story in an industry that is squeezing the soul out of itself.