Let's Be Clear

Blade Runner 2049 had a weaker opening than expected, making around $33 million domestic.  When you spend $150 million to make a movie, you need more.  Overall, you probably require at least $500 million worldwide to go into profit.

Maybe the film was never going to make it big.  The original, though it has a great reputation, was muddled, and a financial disappointment.  For all its cult following, it's not clear the younger audience was awaiting a sequel.

Though perhaps nothing was going to make this sequel work at the box office, I don't think director Denis Villeneuve's attitude helped.  According to Deadline Hollywood:

In his review of the sequel, Deadline's Pete Hammond said that before a critic's screening, a letter from Villeneuve was read asking the press not to reveal any plot details, to let audiences discover the movie for themselves.

The original came out 35 years ago.  Much of today's audience hasn't seen it recently or hasn't seen it at all.  Worse, the new film (like the original) isn't always that easy to follow.  I would suggest Villeneuve write a letter explaining the more obscure plot points, to be handed out to every audience so they'll understand what's going on.