It’s hard not to see Spider-Man: No Way Home as one of the biggest flexes in the history of the movie business. Think about what happened here. A major studio, Sony Pictures, had so badly managed its most valuable piece of I.P. that in 2015, chairman Tom Rothman agreed to do the unthinkable: Share the character, let another studio produce its Spider-Man movies, and allow Spidey to appear in that studio’s own movies for free. And not just any studio, it was Disney’s Marvel unit, which had embarrassed Sony and the rest of Hollywood with an unprecedented run of hyper-profitable and flywheel-friendly blockbusters based on “lesser” comic book characters like Thor and Ant-Man. The indignity.