Yeeeeeee pretty much. Captain Marvel hitched a ride on the backs of two massively hyped Avengers movies. Those were lightning-in-a-bottle circumstances the MCU may never be able to recreate. Although, even without the extra push, it probably would’ve performed averagely for an MCU solo venture.
Just like all the other superhero movies released last year, The Marvels could have generated a moderate profit if the executives were smart enough to reel in the budget. There is no reason why every film needs to cost close to $300 million. It’s ridiculous.