Pixar does it themselves too
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This has been passed around and it's funny, I'll give it that. But Illuimination
does put less money into the storywriting process than Pixar ever does among other things, thats why they're able to keep budgets down among what they clear up in animation costs. (although I'd expect TSLOP costs more than Minions due to all the new characters)
While Pixar is able to give (or at least try VERY hard to attempt) their movies a deeper, unpredictable and more emotional story (which you may have noticed that touch has improved Disney's own animated films), Illumination is content with making a thinner story that may not be dramatically satisfying in any way, but will win over audiences by being broad and silly, but not overly obnoxious. ("Minions", IMO, teeters on obnoxious slightly but otherwise harmless) So if they want their movie to be a shameless retread of Toy Story tropes (I was myself surprised by how it managed to cull ideas from all three films) but with pets, that's not gonna stop anybody from watching it. It's not my own personal cup of tea, but it's going to be what a lot of people will want to see. The same people who went crazy for Inside Out and will for Finding Dory, too. It's a healthy market and Disney has reigned for a reason, and Illumination is also doing so for a reason too.
Universal should be proud to showcase their own IPs at the park. I have nothing against bought IPs, but IMO if Uni has an IP that they own and is currently popular, they should utilize it. Obviously the Potter stuff at Universal is as high as you can go, but you can still experience Harry Potter-related attractions elsewhere, such as London. The WB Studio Tour still has some Potter IIRC. Shrek 4D I can liteally pull up on Netflix right now.
The Secret Life of Pets, if it's a hit (and I think it'll be a massive one), will only be able to be found at Universal parks. Period. Just like Despicable Me, specialized merch and everything will make Universal parks the home of this franchise. Just as Jaws and BTTF used to be, and King Kong will again. Own it, Universal.