I don't follow the first portion of your post's logic. There are plenty of films that cost too much for what they are to likely return that I still know I want to go see them. It's already been addressed that budgets are more transparent by the time movies are marketed. Barbie had visuals, celeb casting, original songs and kept a lower budget than many Disney animated most live action goals.One aspect that stands out as more recent is that all of this talk about profitability starts before anyone has seen the film and thus knows whether they want to see more or less of it. In terms of discussing the film's budget, what do you want them to have cut from the budget of Wish to make it more profitable without making it less of a film you would want to see?
To the second part of your post, I am wondering where a lot of the money went. Have not heard songs yet, but it certainly does not have a high quality animated look any more than other animated films from the same company that have had a lower cost and other companies as well. I always tend to start with celebrity casting. They probably got a good deal on Pine, but I don't think he adds much value compared to what he likely cost.
Easier with movies already out. Haunted Mansion could have cost millions by not having the celebrity casting throughout.
Flipping the question, it would be fair to ask you, why do you think WISH cost 200 million?