IndieWire’s Tom Bruggemann goes through all the options for the release of Christopher Nolan’s Tenet:

So now what does Warners do? Given the multiplicity of stakeholders, is there even such a thing as a “right” choice? There’s the studios’ need to see revenue against a film that cost $400 million between production and marketing; films are financed by borrowing, and interest piles up the longer a film remains unreleased. There’s the film’s significance to the exhibition ecosystem, which could collapse; there’s the consideration of whether “Tenet” is actually the best movie to lead theatrical reopening; and there’s honoring the preferences of the studio’s most important director. With no single solution likely to satisfy most people, Warners is in an unenviable position.

Unenviable position, indeed. “Clowns to the left of me, jokers to the right — here I am stuck in the middle with you.”