1. They give cash that is generally 20% higher than average market price.
2. If you convert your cash into options, you don't pay the income tax for the forfeited cash. It's your choice on how much cash you'd like to convert. And of course, if you joined company by 2015 or so, and consistently converts, say 40% (or whatever percentage other FAANG companies use) of your cash, you should be have enough money to to retire and focus on angel investing.
3. They give you a discount of the options. It used to be 5X. That is, if you forfeit $1 of income and the strike price of options is $1, you get to have 5 options instead of 1. That is, if the stock price increases by 25% compared to the strike price, you'll make even, roughly speaking.
4. They options expire in 10 years! I mean, 10 years!
5. Options vest every month. The strike price is the the price of stock of that month (not sure if it's average of the month or at the time of vest). Combining this and #4, employees will make money as long as Netflix stock has volatility. The only scenarios that employees will lose money is that the stock price keeps going down for 10 years or there is not enough volatility.
6. They don't give bonus. If you perform really well, you will become more important to the company, and you get a hefty raise. The raise stays.
If this is not fair, I don't know what is.