Is it strategy or stupidity? Morbius and Sony

Morbius is the superhero film released by Sony as part of Sony’s Spider-Man Universe. It grossed 73.4m in the US and Canada and 90m worldwide. At release it finished first at the box office, which is not unusually for any superhero film, but then experienced a drop of 74% to be the second-worst superhero movie behind only an obscure tentpole superhero movie from 1997 called Steel. The critical response to the movie has been overwhelmingly negative with 3.8/10 from Rotten Tomatoes and comments such as "critically bad" from Variety. The negative reception spread quickly across the internet creating an ironic meme, which somehow led to Sony deciding to re-release it to 1,000 theatres on June 3rd, during which it made $310,665.

What is most confusing is the manner in which both the fans and Sony have responded to the release. The sour critical reception seems to have bolstered a collective "hate watch" that is generating revenue for Sony. The company, which seems unconcerned by the negative response appears to have taken the influx of internet attention as a positive and decided to re-release the film to cinema. So what happened?
Is the Sony team so out of touch with its audience that it truly believed that the reception was positive, even though box office numbers clearly indicated otherwise? Was it an act of cashing in on internet popularity? Was it the belief that enough people would pay to "hate watch" it again?
Was the movie that bad? The critics are critical, but aren’t they always? Is this so terrible that it deserves the derision it is receiving, or is this an example of the toxicity of the internet where everyone loves to do nothing more than hate together? Should this level of response be lauded or declaimed?
An interesting case study to social responses to film.