Now at 5̶4̶6̶m 675m ww

It's about exactly what was expected. The low-end, it's-a-flop floor was $400 million, and the absolute max, it's-a-smash was $1 billion. $600-800 million was the "it will probably make this much" range.

A billion seems out of the question. The first film made $1.38 billion, which included $105 million from China, where the sequel isn't being released.

Combined with the way the original tapped into the zeitgeist of its day, and became a cultural phenomenon, it's basically impossible to expect a sequel to top $1 billion.

Also factor in the post-Covid drop in theater attendance and anything over $750 million is a massive success.