I think Dumbo also doesn’t have the same nostalgia as something like Cinderella, Beauty and the Beast, Aladdin, or Lion King. 3 of those 4 are playing hard on the 90s nostalgia. 90s kids like myself now have families and want to both reminisce and share our favorites with our kids. Myself, my wife, and my daughter loved BatB and can’t wait for Aladdin. Cinderella is also a staple princess and strongly present in the public conscious.
I’m a lifelong Disney fan (animation and parks) but I hold no interest or nostalgia for Dumbo. Didn’t like the original, and not interested to see Tim Burton’s take on it. My interest is so low that this isn’t even something I’d see on a streaming service.