My understanding is that this is a passion project of one of its producers, Namit Malhotra. He's the CEO of DNEG, a VFX company, and he's throwing a significant chunk of the studio's resources into these movies, hence the CGI-fest.
I haven't seen it yet, but I'm hopeful the experience will be a little like Alita: Battle Angel. After a bit of adjustment to the stylization of that movie's effects, I just accepted it and was on board.