... If you look a the old box office prediction thread, about ninety percent of the forum expected this movie to perform significantly better than it did. This is a poor showing, worse than even the lowest predictions. This is one of Fox's biggest franchises, and they probably lost money on it. They crashed one of their flagship franchises into the ground. For a post-Prometheus, post-Martian, Scott-directed Alien movie to perform worse than AvP is an embarrassment for everyone involved. They can spin it all they want, but the industry will look on this as a failure and I'm sure the stockholders will question the wisdom of making more of these. Calling people an idiot won't make Covenant a better, more successful movie.
Elijah; I'm more positive about the situation than you are.
I think that "Covenant" will make a profit after streaming and disk sales.
Also, it is possible that Fox will approve of a sequel a few years from now.
As for the story not having a strong science fiction hook, you are right that a lot of the second half of "Covenant" is a retread of "Alien".
But I can't blame the studio that much. The Alien franchise fanbase is very divided right now. Fox wanted to please all the viewer factions which in hindsight seems to be an impossible task. Some fans wanted a return of the xenomorph and a monster hunt. Naturally Fox and Ridley responded to that.
The last Star Trek movie faced a similar problem, a divided fanbase and an underperforming film.
- Sometimes a franchise needs a rest.
"Aliens" came out 7 years after "Alien" with new filmmakers.
The same kind of thing could happen with a "Covenant" sequel.