First, I have no connection with Beetlejuice. I enjoyed it, and especially enjoyed it more than many recent movie adaptations. But I have found its path one of the more interesting ones in many years. It's so rare that a show starts to turn around in the way this one did.
I know you know this, but being at 100% capacity is not the measure of success so I am not sure why you noted that above. They have to gross enough each week to cover their costs and hopefully accumulate some profit. I don't know their nut, do you?
I think, maybe, a more useful observation is that starting week ending October 13, 2019 through to week ending March 8, 2020 they only had two weeks that were below 1M gross. And those two weeks were in the 900K's, so not tanking. Do you think grossing 1M+ per week for 5 months was not covering their costs? Maybe it wasn't. Lord knows it looks big and expensive.
I think if the show had been allowed to stay in the Winter Garden, or move quickly to another theatre, and Covid hadn't happened, it had the looks of running successfully for some time. And I know there was much discussion about that at the time.
That said, after Covid and this long pause, I do worry it will not recapture the turnaround and momentum. We shall see!