>>7504753Bionicle only happen because LEGO was on the heels of bankruptcy and was willing to try anything and they experimented with this action figure concept that became Bionicle and it was a success LEGO didn't have the legs to grow the brand bigger and fund into something as costly as a major theatrical film. When LEGO got it's legs back they took what work with Bionicle(Lore, storytelling, large cast of characters) and applied it to more traditional brick sets, Ninjago being the first. Also they didn't start working with WB till 2011 and it wouldn't be till a year later they made a more expansive agreement allowing Warner Bros to make films while LEGO controlled the toys for said films. Consider as well that until 2007's Transfomers film most would never consider taking a toy brand and running it as a major summer blockbuster, the sea of flops in the 80s and 90s made it seem they could never make money.
So the tldr: Bionicle came too soon while Ninjago was right time and right place.