Here are a few things to consider:
- WB really had to appease Legendary and Villeneuve because of the HBO Max thing, so it is likely that, if they haven't internally green-lit the sequel right away, they at least lowered the bar the first movie's performance has to meet. That bar was already lowered because of COVID.
- Prestige and OSCARs really help out, as well. Fury Road didn't perform that well at the box office ($375 million worldwide against a budget somewhere between $155 million and $185 million), but the great buzz, the critical acclaim and the awards it got helped WB greenlight the Furiosa movie years ago (slowed by George Miller's need for rest between the two movies). Sure, box office is important, but it is not the only deciding factor when greenlighting a sequel. And this Dune feels like it will be the rare genre movie to get some OSCAR love beyond the technical categories.
- The audience of Dune skews older, and this part of the audience is not only more likely to stay home because of COVID, they also are more patient when it comes to when they go see a movie. They don't all rush out on the first weekend, they'll go when they have the time.
- The good buzz and people announcing repeat viewings are also signs that this film will "have legs" at the box office.
- The Chinese box office is not as important as it was just two years ago. The Chinese government has limited the number of foreign films allowed for a release in China, and several big blockbuster movies (including the two MCU releases so far) didn't get a release in China. This means studios are less likely to count on Chinese box office for their future movies. On the other hand, Dune is doing great in Europe.