It reminds me of cable TV now: cheaply produced shlock, with less and less premium TV.
The last thing I watched that was truly wonderful on Netflix was Mindhunter -- which I heard was canceled by Netflix because it's too expensive.
Meanwhile there's a dozen or more new "reality TV" knock offs seemingly every week.
We've switched most of our viewing to HBO now -- it has a lot of fantastic content, like Raised by Wolves, Lovecraft Country, His Dark Materials, Chernobyl, etc. And they actually stand behind their product because they believe in it -- they aren't constantly pulling the rug out from under their viewers like Netflix does.