I'm sure Disney was disappointed in Lightyear's performance given its marketing push and brand appeal, but I don't think you're listing the movies that are central to Disney's strategy anymore. Ever since COVID, Disney has pretty much banished Pixar to Disney+, not as "premium" releases that cost extra, but just included day one on the service. If they had theater runs, they were limited or international-only. That includes such films as Soul, Luca and Turning Red, whereas Encanto from their other animation company (Walt Disney Animation Studios) got a wide and successful theatrical run. Turning Red's box office returns are irrelevant because of this. However, due in part to people going back to theaters and (largely) to the film's brand recognition, Lightyear became the first Pixar film since 2019 to be given a real theatrical release. And the main reason it bombed was, I believe, because everyone and most importantly families had gotten used to being able to watch those movies on Disney+ for a lot cheaper. Even if that one waited two months to come to the service.

As for Strange World, it was widely observed that Disney didn't give it any marketing push and a majority of people weren't even aware of its existence. To me, the main reason is that Disney doesn't bother to hype up movies that they don't really believe in. Strange World was one such film, a WDAS movie that isn't a fairytale or a musical (and isn't safe from the kind of conservative hate campaigns that Disney tends to avoid). Disney has a long history of letting their studios make films outside of the cookie cutter but release them with little fanfare. They can now easily be written off as Disney+ fodder.

Disney absolutely still relies on their animation studios for blockbusters, but they've noticed which formula works best for each. Pixar is never as successful as when it does sequels. WDAS routinely hits the 1 billion mark when it makes new additions to their fairytale canon, or bombastic musicals (see Encanto's massive success). It's no surprise then that they're now pushing WDAS, a notoriously sequel-averse studio, into making a third Frozen and a second Zootopia, and that a _fifth_ Toy Story is suddenly in the works at Pixar alongside... Inside Out 2. Any other project is bound to get buried in the release schedule or dumped on Disney+.

So what kind of movies are core to Disney's strategy? Star Wars is on a kind of hiatus and lives on Disney+. We have Marvel of course, which isn't in the healthiest state but still produces frequent hits. Avatar is now a big one. Any animated movie that fits their preferred formula. And of course, the depressing string of live-action remakes which, if they're all quickly forgotten, often hit the 1 billion mark, and I've no doubt that their lifeless Little Mermaid clone will do the same. I think Disney is now suffering from the same "we grew too big, too quick" realization as every other tech and entertainment giant, and they're definitely reeling from a few recent failures, but I wouldn't use Strange World or Turning Red as the poster children of their troubles; they never bet much on those anyway.

Unfortunately, when Disney makes the most bland and forgettable nostalgia bait, they still make the "movies people want to see".

(Apologies for the wall of text, I've had thoughts about the state of Disney for a while!)