It made a profit. But by Hollywood standards, making a profit does not make something a success. Dumb, but true.
Let's say that you invested $100K in Watchmen. And that money got tied up for a couple of years... and then it started to roll back in just recently... but Fox had to get their money... and the studio had their BS accountants skating it out over thin ice... and you finally started to bring in a smattering of cash. OK.
Now, you could have put that money in other movies... or investments to include real etate... or let's say you would simply have gotten a CD.
You lost money. You sunk it into Watchmen.
And even if it made money overall, it lost money for the investors.
And you are an investor.
And now you can't send your kids to college or buy a new house.
And some screwy little geek is whining on the web about fidelity to the graphic novel
And you can't get laid and your kids are going to bag groceries and shovel dog shit for the kids of your friends who invested in Transformers 2 (even with Megan Fox's ugly thumbs).
No... Watchmen was a disaster. It needs a reboot on HBO as a series... or to be left completely alone. It doesn't work as a movie. Period.