As a different comparison point, HBO NOW is $15/month and that gets you a very small amount of content.
I can understand how you might look at it that way, but I guess it depends on how you define value. To an investor, no of course not... one youtube channel could never have the same asset value as half of the content on netflix.
But, if you're talking about personal value, emotional value, qualitative value, I don't think you can speak in terms of asset value. A super fan doesn't care how much the content cost to produce or the variety of that content, in fact they want more of that one type of content than anything else. Most people have something they are irrational fanatical about and would pay more than $5/month to consume/learn/see everything about that thing. It's about a feeling and that feeling is often worth more than $5/month.
That also doesn't include content that has real monetary value to consumers. For example, there is one stock related youtube channel I follow that charges $8/month for access to their private stock picks, analysis, etc. If that helps someone generate a 1% gain in their portfolio growth then that could very well be worth more than the content on netflix to that one consumer since the content on Netflix costs them more than it makes them.
So, I think it's fair to say that someone may like one show or creator half as much as they like the content on Netflix even though the asset value could never compare.
Rather than paying a fee to Netflix let's just make our own and what you end up with is 100s of providers that have 1 or 2 things you actually want to watch.