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Is it? They could (hypothetically, for the sake of argument) pivot to become a PAAS for the competitors (exit the streaming market, offer to today's competitors a superior/cheaper underlying technology, let them watch fight among themselves for who get what series while they provide the plumbings)

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Their major competitors already have functioning platforms of their own.

While Netflix level performance is difficult, getting 90% there is a lot easier today than 10 years ago. And 90% there seems to be fine for consumers as long as the content is there

I think there would be a market for that, but not one that justifies a $230 billion valuation. It would be virtually impossible for Netflix to pursue a strategy like that because they would be admitting defeat and taking a loss for their shareholders.

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