Not sure I completely agree with that analysis. In fact, I'd argue the movie was a pretty decent hit for the studio. They released it on what is typically considered a dump week for new movies do to the strong holdovers of Thanksgiving released movies, and yet well over performed it's expected opening weekend gross. It was expected to open to about 8-10 million, but opened to a little over 16 million.
Even its final US gross, over 42 million, is more than another property HHN used semi recently, Cabin In The Woods, that likewise wasn't promoting the theatrical run for the film or a sequel. And in the case of Krampus, they wouldn't have to pay for the rights.