I think they're trying to kick off a He-Man Cinematic Universe like Marvel, so they wanted to come out of the gate with an expensive cornerstone to build on. On the upside, maybe they'll sell enough Castle Grayskull popcorn holders that it will have been all worthwhile.

As for Leto, he has been in several masterpieces including "Requiem For A Dream", "American Psycho", and "Fight Club". I actually liked the recent "Tron" that he starred in, although really, the visuals and music stole that show. "Blade Runner 2049" was also good.

The issue is that none of Jared Leto's films in recent memory have made any money. Like Morbius.

Leto is a self-proclaimed method actor, but I think his method is to try and channel Nicolas Cage, only weirder, which is pretty hard to do. More to the point, he is box office poison.

His lead turn as the Joker and Morbius had dismal results in several films. "House of Gucci" and "Haunted Mansion" were just bad. Though the last Tron and Blade Runner movies had some fans, they lost enough money to effectively end both franchises. He can't carry a film as the lead, that's obvious, but he still has a recognizable name. Trouble is, it's not bankable, and his track record as these comic villains is especially terrible. Who hires him for the same roles and expects a different result?

He initially got famous (over 30 years ago now) as the dreamy teen opposite Claire Danes on the TV series "My So-Called Life".
Who knows, maybe he's one of those Stonecutters.
They were even able to make Steve Guttenberg a star.

Sort of like Adam Driver. Why do people keep touting him as a big star ? What successful film has he been one of the leads in besides Star Wars ? And even thos films were a decade ago