The consensus is pretty clear: Tenet is a solid film.

The latest Christopher Nolan opus is a time-leaping thriller with a plot as convoluted as Inception and a look that’s just as polished. The movie earned a thumbs-up from three-quarters of the nation’s critics and earned positive reviews from 77% of America’s moviegoers, according to RottenTomatoes.com

It also cost a quarter-billion dollars.

That last point is a stickler for Hollywood, which is trying to make sense of the tea leaves left in the wake of the Labor Day opening for the film. Tenet was to be the litmus test of moviegoing since the pandemic.

“The movies are back!” Warner Bros. proudly exclaimed in advertising the film.

Moviegoers, however, were another matter. The film has made $30 million since its release, and more than $200 million overseas, bringing it near its production costs.

But in today’s Hollywood, a film needs to make about twice what it cost for the industry to consider it a success, much less a sequel. And it’s hard to see Tenet nearing the $500 million mark.

To be fair, Nolan’s film was facing an uphill battle since its release. Only 70% of the nation’s theaters are even open for business, and they can only accommodate 25% capacity due to social distancing.

In response to expectations, Warner Bros. has quit reporting daily box office for the movie — never a good sign. And they are, as expected, mum on how much they’re spending on their next tent pole picture, Dune, due December 18.

But clearly, summer 2020 was a graveyard for Hollywood films. And like the nation, U.S. theaters cannot be forced to open, even with as elegant a crow bar as Christopher Nolan.

Here’s hoping for better holiday tidings.