I do think they've spend too much on D+ content. But there is context that needs to be added. I've said they spend too much, I won't deny it. But if you see what I've written it's things like the Acolyte. Nearly 200mil for a concept that wasn't very successful on the print side of things with unproven show runners. That's a risk, not bluey. I don't have problems spending money where warranted. Never have I said Disney spent too much for star wars, marvel or Pixar... They were all solid investments even not being early on. I complain how lucasfilm has been run, not that they spent 4bil. If they make a decision that is what should be a smart move, and doesn't pan out, that's fine.
The problem I have with your statement is, the theme park rights have nothing to do with D+ streaming cost. Would I have been mad and cursing Iger if they spent the money and bluey failed? Maybe. It comes down to context again. If Iger spent star wars money on it, yea, bad move. But we can reasonably assume that it wasn't that high of a number, even now. And if it was that high, yea, don't do it. But if it was, there's a VERY high likelihood that information comes out at this point.