Netflix was kind of not at fault in this. After they pioneered the streaming industry, proving it can be massively profitable to the very resistant studios, the studios yanked their licenses and content off Netflix and spun up their own crappy service, charging just as much as Netflix did for everything. Paramount with Star Trek is a great example of that. Oh, but that wasn't enough. After getting everyone who was going to subscribe to Paramount for Star Trek to actually subscribe, then they sold the rights to HBO. They'll slice the pie as many times as they can, selling the ever shrinking pieces for the former price of a whole pie. Netflix saw this coming years ago, which is why they tried so hard to create their own quality content, but it's just not enough, and usually not good enough to stay subscribed.