Steel (John Henry Irons), also known as the Man of Steel, is a fictional character, a superhero in the DC Universe. Introduced in 1993 as one of several replacements for the then-deceased Superman, Steel continued to be an independent superhero after his inspiration's resurrection. He received his own ongoing series which saw him move from Metropolis to Washington, D.C. and join the Justice League of America in Grant Morrison's JLA. He later mentored his niece Natasha who became a superheroine herself.

In 1997, a feature film was produced based on this version of the character. The film Steel stars professional basketball player Shaquille O'Neal in the title role and Judd Nelson as a new villain named Nathaniel Burke. The film was originally designed to be a spin-off of the new Superman film that used the "Death of Superman" storyline that first introduced the character in the comics. The project languished in development hell for so long the spinoff moved forward without the film it was to be attached to. The movie (released on August 15) was considered a flop both critically and financially. Steel was produced for an estimated $16,000,000 but grossed $1,686,429 at the box office.  A very young John Henry Irons appears in the animated film Justice League: The New Frontier reading a comic book nearby the gravestone of the "DC: The New Frontier" version of John Wilson, also known as John Henry, who is reportedly killed in the film.  John Henry Irons appears in Justice League: Throne of Atlantis, voiced by Khary Payton. He is seen wielding a hammer and is seen defending a colleague from an Atlantean before he is saved by Superman.  An alternate universe version of John Henry Irons appears in Justice League: Gods and Monsters, voiced again by Khary Payton. He is depicted as a scientist who is a member of LexCorp's "Project Fair Play." John was discussing with the other scientists involved (consisting of Will Magnus, Michael Holt, Karen Beecher, Pat Dugan, Kimiyo Hoshi, Emil Hamilton, Thomas Morrow, and Stephen Shin) before they are all killed by the Metal Men with the exception of Will Magnus (who secretly orchestrated the attack).

Using a quote from the above article, answer the following question: Was the film a success?
Steel was produced for an estimated $16,000,000 but grossed $1,686,429 at the box office.