According to this The Variety interview with Brad Winderbaum, head of streaming, television and animation for Marvel Studios, Agatha All Along is "officially the “least expensive show” Marvel Studios has made to date".
I do not know what this means since numbers were not shared but for comparison, “Hawkeye” spinoff “Echo,” had a budget of $40 million total for five episodes.
This is good for studios, investors and fans. With studios and investors, less cost means they do not need to hit big numbers to make the show breakeven, so the risk is lowered
For fans, it increases the chance that a popular show is renewed. This will help avoid the debacle of The Acolyte, which was allegedly the most expensive Star Wars TV show to date.
Tax documents filed by Disney's UK branch seem to indicate that they spend USD 231 million on the show, which is about 29 million per episode.
The show was controversial from the start, with a review bombing campaign from parts of the fanbase, and loyal fans of the show were disappointed when Season 2 was cancelled. Nobody was happy in the end.
The show had its problems but many parts were great. Some of the fight scenes were the best in the franchise.
Qimir vs Sol
I am not sure what a reduced budget means for big cinematic scenes like the Qimir vs Sol fight but I hope they use it creatively to deliver punchy scenes in the story. Having a show survive might allow it to gain a loyal and bigger fanbase over time and allow for bigger budgets.
Also, sci-fi shows like Star Wars usually needs more budget for special effects, compared to a more contemporary show like Agatha All Along.
Hopefully Star Wars will learn the right lessons from Marvel's move towards lower budget shows.
I'll leave you with the catchy Ballad of the Witches' Road from Agatha All Along. Give the show a try if you have not.
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