Perhaps it's relative as far as entertainment value is concerned, but not as far as artistic merit is. I for one don't enjoy wading through an endless stream of consumerist drivel helmed by yes-people who just want their big break, or who otherwise are simply involved for the pay and career.
>I suspect Netflix realizes this
Yes, because they collect all kinds of user data and have statistics to back up viewership and retention. E.g. the Adam Sandler films they produced come to mind. I don't think anyone would claim they're worthwhile films, but nonetheless Netflix has stated they got lots of views, which is important for their platform, especially to quantify investment returns.
My theory is that since Netflix is global, foreign audiences further skew the quality:views statistics, as many such countries' media is dominated by Western media, and "Western" may very well be enough to make it appealing simply because it contrasts with domestic media and arts. But I suppose the West does this as well by awarding an Oscar to the "Best Foreign Film" that might very well not be as acclaimed or otherwise not viewed as such in its own country.