Yes, Turning Red's low revenue was primarily a cause of the film not being in theatres, rather than the quality of its story.
I personally liked the story of Turning Red very much (though I'm biased to like it because it's set in Toronto), but more objectively, the film is a step above Strange World and Lightyear in terms of ratings.
Turning Red's ratings: 95% on the Tomatometer of Rotten Tomatoes (RT), 7.0/10 on IMDb, and 3.7/5 on Letterboxd
Lightyear's ratings: 74% on RT, 6.1/10 on IMDb, 3.0/5 on Letterboxd
Strange World's ratings: 72% on RT, 5.6/10 on IMDb, 3.0/5 on Letterboxd
I'm neither Canadian nor an immigrant, but I absolutely loved Turning Red. I felt it was 10x better than Encanto. But the latter has catchy meme-worthy tunes, so here we are.
I personally liked the story of Turning Red very much (though I'm biased to like it because it's set in Toronto), but more objectively, the film is a step above Strange World and Lightyear in terms of ratings.
Turning Red's ratings: 95% on the Tomatometer of Rotten Tomatoes (RT), 7.0/10 on IMDb, and 3.7/5 on Letterboxd
Lightyear's ratings: 74% on RT, 6.1/10 on IMDb, 3.0/5 on Letterboxd
Strange World's ratings: 72% on RT, 5.6/10 on IMDb, 3.0/5 on Letterboxd