‘Barbie’ may be big for Warner Bros. Discovery, but plenty of questions remain after its Q2 earnings. Analysts gave the company credit for major progress on its mountain of debt, but sustainability is still far in the future.

It’s only been about three years since the Streaming Wars kicked off, but analysts say we’re much further along in the process of figuring out the new era’s winners and losers. While 2023 may not decide anything, it’ll make for a great set-up pitcher for the final innings.

Disney had a very bad quarter, surprising analysts, and raising questions about its ability to turn its streaming operations into a profitable enterprise within just another 15 months or so. Patience may be a virtue, but Wall Street wasn’t waiting around, sending share prices down 12 percent.