Another thing that doomed the old historical epic besides cost. Those old sword and sandal movies were also about putting Gina Lollabrigida and Sophia Loren in not a whole lot of clothing. They were about showing every bit as much flesh as Hollywood could get away with before nudity. That's why they had the chaste Christian maiden. By 1968 it was no longer necessary to spend so much money to show a lot more skin. As an aside, things have come full circle because had Gladiator been made 10 years ago it would have had a naked orgy scene.
It was called "Caligula!!"