Exactly, apparently it did very poorly with test audiences.
I’m assuming it’s awful because not only are they not releasing it to theaters, they are not putting it on any streaming service.
Given the amount of money spent on the project, I can only assume it is so bad that WB thinks it could harm the DC Film franchise.
Warner is not even putting it directly on streaming.
Considering the awful dreck which has made it to at least a direct to video release over the past 40 years, a refusal to release it at all implies that it must be awful...