The Rings of Power is a lesson in the sunk cost fallacy, and it shows why high-concept sci-fi/fantasy and elaborate production value is a risky gamble. Purchasing the rights to J. R. R. Tolkien's Lord of the Rings universe looked like a brilliant move eight years ago, spiced up by the fact that Amazon Studios outbid their nemesis, Netflix. While shows costing far less get canceled, Rings of Power lingers. Prime Video bet big on The Rings of Power, but is now resigned to the fact it will never hit the jackpot.

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