I strongly disagree. It doesn't "just work"; it has a very specific target, for whom I don't doubt it works, but it costs a lot to the rest.
Until a short time ago, you couldn't even directly remove entries from the "Continue watching" row, unless you used the sledgehammer approach of marking a series as never watched (which, conceptually, doesn't make sense - I may want to stop watching a movie, but still retain the information that I've watched it).
Row categories don't have a fixed position; sometimes I have to scroll to find the "Continue Watching".
It's impossible to remove movies/series already seen from the interface. Not only that, but the interface has a row with movies already watched.
There's no management concept, I mean, even very basic functionality (the only concept is starring).
Searching movies requires navigating through undesirable entries (in particular, already watched ones), rather than helping the user finding new content.
This is a intentional design, and a clever one. However, it's shoved-in-the-throat fast-food rather than slow food. It's not random that they've introduced the speedup functionality. I believe that Netflix is meaningful to society as much as McDonald is; it's fast and cheap, but I wouldn't classify this as a benefit to the food culture.
Even if all the above was false, the movies catalogue is relatively small. I can tolerate the above (although I don't, really), but as a cinema lover, I need a very large catalogue.