The fact it exists at all says Toei approves of it. However, it means nothing in terms of how well it'll do

Bad timing hurt the movie if you ask me. They release it in March when the Beauty and the Beast was out in theaters. The 1995 MMPR movie had a similar issue when you had movies like Batman Forever and Pocahontas out around the same time. So kids end up seeing those movies instead.

Bear in mind that toy sales are also relevant.
Perhaps if Bandai sees that the movie toys sold like gold, even if they only make $145 million, the toys might be able to convince studios to produce another movie.

Apparently GotG2 was competing in China although I felt the idea of movies in competition stupid

Yup, strong toy sales are the reason we keep getting Transformer movies after all and strong toy sales keep Sentai going despite falling TV ratings.

Not to mention there's still the release of the Blu-Ray coming out next month which would help in boosting sales.

Toy sales also help G.I Joe: Rise of Cobra. I still feel like they should have pick a better release date like maybe August.

$1.2 million opening day and only $3.3 million for the whole weekend in China.

Source: Den of Geek

Failure or no failure Japan is slowly hyping up the film for their July release it seems. They just had a voiceover demonstration with Ryo Katsuji who plays Jason, Alice Hirose who plays Kimberly, and Ryota Yamasato woh plays Alpha 5. Yamasato's recent tokusatsu appearance was in Ninninger vs ToQger as the featured villain of the movie.

Apparently Power Rangers are the #1 toy selling brand thanks to the movie!!

https://www.powerrangersnow.com/powe...-figure-brand/

Why do I find that so hard to believe?