Blockbuster didn't only stock Paramount pictures -- and people wouldn't have had much patience for rental groups that worked that way when there were alternatives that didn't -- piracy being the alternative here.
Keep in mind the this was only because of some monopoly busting decades earlier: https://en.wikipedia.org/wiki/United_States_v._Paramount_Pic....
With Disney owning so much of the production and now entering the distribution/retail side there might be some more anti-trust cases coming.
Netflix can only stream what they are allowed to. If you want the convenience of the Blockbuster model there are always rentals from Amazon, Apple, Google Play etc. Yes I realize that some movies aren’t available for rent.