That scratching sound you hear is Sony scraping the bottom of the barrel

The irony, of course, is that "Bad Bunny" sounds like the name of a Spider-Man villain.

And to my knowledge, Bad Bunny only has two fewer appearances than El Muerto.

Technically one acting role, which is Sony's upcoming 'Bullet Train' (which was one of the movies showcased at Cinemacon, along with 'Across the Spider-Verse'). I did read that Sony decided to give him a Marvel role, after being impressed by his performance in it. Even if it's a supporting role, and doesn't necessarily prove leading man material.

While unlikely, I wouldn't be surprised if it releases like the Hulu show 'Helstrom', or even the movie 'Big Hero 6', where all Marvel branding is removed upon release. Although that would beg the question, as to why not just do the same type of character, but as an original movie. Is El Muerto really that iconic to where one couldn't do something similar?

I doubt they'll remove the Marvel branding, because Sony's entire strategy is to trick enough of a general audience into thinking their Spider-Man villain movies are the next installments in the MCU. If they can't coast on that brand confusion, the entire operation falls apart.

Sony's seeing Marvel turning some fairly obscure characters like Shang-Chi, Moon Knight and the Eternals into huge parts of their multimedia empire, and thinking they can do the same with obscure Spider-Man villains. Is their Nightwatch movie still on track?

For 'Nightwatch', aka poor man's Spawn (which is really saying something), hasn't had anything new about it since 2018, with Spike Lee no longer attached. If Todd McFarlane's upcoming reboot of 'Spawn' starts filming in the future, watch Sony act accordingly.

One funny difference between how Marvel Studios and Sony does it with (at the time) obscure characters, is when a newbie looks them up. For Shang-Chi, they'll find a whole new world and legacy to dive into. For El Muerto, they'll find a character who has barely a dent in comic history, with a few paragraphs of description about them.

Remember how in the wake of the success of the original 'Iron Man' movie, we saw a bunch of studios greenlight movies based on relatively obscure comics properties thinking they could similarly turn into huge hits? Kick-Ass, Jonah Hex, Scott Pilgrim, Surrogates, The Green Hornet, etc.

That's more or less what where we are with Sony right now.

Ditto for WB/DC, when they tried kickstarting their shared universe with 'Green Lantern' in 2011 (since Nolan wouldn't let them do it with his 'Dark Knight' trilogy, and before abandoning it for 'Man of Steel'). Not just with it being relatively obscure, like 'Iron Man', but also parallels like military ties and suit-based but non-powered human character. (Enough to where Marvel & DC combined the two for their Amalgam Comics.)

Obvious difference being, back then most of said movies were more likely meant to be one-offs made to capitalize on 'Iron Man's success. While what Sony is doing is 10+(!) years later, where a lot has changed since then. Not just for supehero comic book movies, but Hollywood film making in general, and public perception.