There's honestly probably enough people out there who have convinced themselves that Space Jam is a masterpiece to make the sequel at least moderately successful.
Each year there's like one hundred wide releases or something (haven't checked the numbers but it sounds right lmao). At this stage we're getting around fifteen above 200m. I think it's fair to call the top fifteen percent of movies blockbusters.
Blockbuster is obviously an arbitrary term but it's nuts to say something that grosses 300m domestic isn't a blockbuster. Hell, I'd call anything over 200m a blockbuster.
I can see what you're saying but the dragon tearing shit up was really cool.
Believe me, I'm still as heated as anyone over the dog thing but I think there was room in the budget for both dragons and dogs.