To me there is a reason why twitch is popular and I believe it is exactly this feeling. I remember watching some more dodgy streaming services that just effectively were streamed playlists of shows, but you didn't have any control over the playlist. You watched (or watched part of) a series start to finish and then a new series would start and you'd watch that instead. It was a small enough total catalog that you often could pick up where you left off a week or two later and watch another chunk, and that was it.

The pendulum has seemingly reached the limits of self-programmed content and has started to swing the other way, and people are starting to realize the value of having a content producer putting on a good show across several programs.

Netflix also feels (by the way they are developing their internal IP) that they are becoming a niche (in genre) service rather than a generic appeal service and losing subscribers feels like an outcome of the catalog they have tried to pursue. The subscribers they retain are likely going to have a higher level of permanence compared to people who are a more general audience.