It doesn't feel that way. The first movie was a cultural event. It also felt kind of empty due to the death of Chadwick. It also doesn't have what one could argue as the best villain in the MCU in Killmonger. Also it is a post Endgame movie that was happening at time when MCU fatigue was starting to really become a thing. I think the main reason it made money was because it was a sequel to such a iconic movie but that in itself doesn't make it iconic. I would argue they only had two movies that reached the levels of being a event movie and that would be Spiderman 4 and of course the Deadpool movie. The third one would not even be a movie but the show WandaVision.
Wakanda Forever was no less of a cultural event than Winter Soldier, Ragnarok, Guardians 1 or 3, etc.
You're the one making it feel small by insisting it must measure up to the first Black Panther (which was always going to be impossible even with a universally beloved movie starring Boseman) and anything less is 'mid'.