Yes, but the trial-and-error model of Netflix original content production is exactly the same as it is for series produced chiefly to be shown on major US TV channels.

The difference is, more of this content used to be licensed to Netflix, but shows have been leaving as licensing deals expire and typically end up on Hulu, which is a first-party platform for Disney (ABC, Freeform, FX, A&E) and NBC (Syfy, Bravo, USA), and a third-party platform for WarnerMedia until they finish starting their own.

Streaming services are proliferating as each vertical starts their own, and exclusivity is being leveraged to drive subscriber numbers. Discerning viewers can choose on content or cycle out subscriptions as they consume the material of interest, while casual viewers can choose on a different dimension like price per month, size of back catalog, variety of genres, search and discovery tools, or lack or presence of commercial breaks.