As mentioned before, as much as it was very solid, it was pretty much a disaster at recouping its budget.
105 million budget, 145 million box office, with theaters taking 45% of that money. It was a bomb.
Even then, sometimes the merchandise can offset losses, but that didn't happen either. Toys and action figures REALLY struggled and were warming shelves for months and months and months. Didn't help that they were extremely ugly figures.
The loss of investment in the toys was even considered a driving reason for Bandai losing the toy license to Hasbro less than a year later.
Ultimately, it all comes down to money. The film didn't recoup its investment at the box office, it didn't recoup its investment with toys and merchandise, and Power Rangers as a brand was doing better just moving forward with Beast Morphers, the Boom comics, and milking MMPR nostalgia, for better or worse.