It was a different time when having a drop more than 40% was seen as bad, unlike today. Wild Wild West that same summer had respectable-looking legs compared to movies today and no one would ever argue that movie was anything but reviled. It was a few weeks until the backlash fully kicked in, one could say it was felt the most when the sequel saw such an astronomical drop (even if in part because it was a gigantic piece of crap) the following year despite a huge marketing push and a timely Halloween release.