Absolutely agree. In retrospect, the best word to describe any industry, especially Hollywood, would be "floundering."
The bigger problem, however, is the movie is too obtuse to the point of turning people off. You'd need excitement and buzz for a true tentpole feature, and Tenet just doesn't engender that.
Crossreference it with Inception, which could be argued as having a similarly obstuse plot point, lingering questions to the viewer, etc. On the face of it, though, it's "simpler." Like the old tenet (ahem, sorry) about writing science fiction-- "you get one thing." Inception's one thing is-- you can travel through layers of dreams. In Tenet, you start with one thing-- traveling "invertedly"/backwards through time, but then there's another thing with a war in the future, then another thing with arms dealers and artefacts, then another with who's leading the organization... What happened to saving something for a sequel ? The risk of trying to be so twisty is that your audience will turn around, then walk away