I understand the global economic climate and competition hasn't been great but I also feel like Netflix's original programming quality has dropped significantly too. Remember early seasons of Narcos, House of Cards,...? compared to the later seasons of the same shows or even new shows? I remember reading somewhere that the average IMDB scores of Netflix's original stuff have dropped too.
Netflix has certainly felt less necessary over the past few years.
Bumping prices. Not hard to predict.
Actually I believe the strategy is to lower prices in exchange for ads