For me, the problem is they are just throwing too many darts at the wall at this point. There is just sooo much garbage original content being added monthly, it seems. They are almost over optimizing/testing their shows, in my opinion. Instead of focusing on the good shows (obviously opinionated), and building up on them with new seasons, it seems like they are just investing more into new content to see what happens. Sadly, they have also been ending a lot of what I thought were popular shows on there (some of my favorites). Their catalog outside of Netflix original shows has also been dropping significantly, which many very popular shows leaving here soon (Office/Friends).
I used to spend about 80/20% time on Netflix/Hulu, now it's 100% Hulu after cancelling Netflix. The content on Hulu has been ramping up significantly for their TV department (non-originals). Plus, I love having my HBO through Hulu, and it's all in one place under 1 subscription payment.
I'll most likely re-subscribe to Netflix again in a few years just for a month or two to watch a few seasons of new content that will actually interest me (then cancel again), but until then, no need to pay them so they can produce the copious amounts of BS half-assed content like they seem to only be doing lately.