One potential, optimistic sign about the film's quality, despite the massive retooling, is that director Josh Boone has stayed on board the project and remains on good terms with the studio throughout it all. At the very least, The New Mutants isn't going to be a repeat of Fantastic Four (with the studio and director turning on each other) or Justice League (with the director being replaced).
A more pessimistic sign, though, is that those planned reshoots still hadn't happened by October 2018, in a schedule seemingly extended far beyond any reason. Original comics artist Bill Sienkiewicz reported that reshoots were happening on Feb. 3, but who knows when they'll be done shooting.
Now we must come to the elephant in the room, or, more precisely, the mouse. Fox does not have control over the X-Men franchise for much longer. Kevin Feige has confirmed that the characters will be incorporated into the Marvel Cinematic Universe following the finalization of Disney's purchase of the studio.
Whatever grand plan Fox had for the series is done for, with Ryan Reynolds as Deadpool likely to be the only element of its X-Men cinematic universe to survive. The New Mutants was originally supposed to be a way to expand that universe, as it was planned as the first film in a proposed horror trilogy. Barring unbelievable box office results, it seems unlikely that trilogy is going to come into being. It may very well be the last X-Men film outside the MCU.
Given all this, Disney doesn't really have much motivation to promote The New Mutants. Rumors abound that the film's current release date isn't final, and that the movie might not end up in theaters at all. No longer fitting into Disney's franchise-building plans, the studio might just dump the film on Hulu for Halloween.
Long-time X-Men franchise producer Lauren Shuler Donner acknowledged these rumors on Feb. 4 at the TCA, saying she'd "hate to see it thrown at Hulu." Whether or not the new Disney overlords care about her feelings remains to be seen.
The New Mutants isn't the only X-Men film to go through a troubled extended production recently. Dark Phoenix, a mainline X-Men series entry currently scheduled for release June 7, also went through multiple reshoots and delays.
Whereas most fans have lost hope for Dark Phoenix turning out any good, we're still excited for The New Mutants. We want unique, risky takes on the superhero genre to succeed. We'll be sure to watch it as soon as we can. Whether we ever will be able to is another story.