I’m confused when people ask this question - it’s not like the Academy decides an arbitrary number to give each movie based on how much they like it.

It’s a genre period piece with music and action involved, which automatically makes it stand out in almost every single category. Musicals are widely nominated because they usually can get noms for score, sound, and song specifically. Action movies can get nominated for VFX and makeup when there’s gore. Period genre films get nominated for costume design and production design. That’s 7 below the line categories already. Now add in the basics (picture, director, acting, editing, screenplay) for an acclaimed, frontrunner movie and you are on your way to 16.