The WB situation is pretty messed up. The previous regime apparently put them in a $2 billion hole (that is publicly known) and was set to add another $1 billion just in upcoming projects that were set to bring in no revenue. They botched the HBO Max launch, they botched the COVID slate of films and pretty much all of the HBO Max exclusive projects were money pits with no return on investment likely to occur. (in part because of the Max debacle) AT&T basically ran it like their crappy cell phone company and let the studio heads throw money into a fire and burn it. The amount of red ink Discovery took on in this merger is pretty astounding.
Put it this way, if they didn't cancel half this dreck the fallout would be worse than it is right now with the bad press and the falling stock. AT&T (and a few higher ups who are terrible) damned near bankrupted WB. Mock Discovery all you want, all of these moves are the right moves if they want to be in business 5 years from now. A lot of the "cancelled" projects will end up moved to HBO where they will be better received and actually watched outside the US. (and still stream on Max just not exclusively)