I remember reading them back in the early 90s (Robin Hood: Prince of Thieves, Far and Away, Back to the Future). They don’t seem to be a thing anymore (or am I just not noticing them).
As an aside I remember liking them but I was a preteen at the time so maybe they were terrible and I just liked the movies.
Like the novelization of the Halo games, I imagined the audience is parents thinking “At least he’s reading something”, but might I be being unfair.
I think you are 100% correct. Much like the Minecraft books.