The thing I find interesting with Netflix is how much they spend on content and what a terrible rate of return it has. Look at Apple TV+, they're absolutely TINY compared to Netflix in both library size and money spent on new production, but they have arguably more hits than Netflix. Like, since when has any drama on Netflix been as buzzy or as good as Severance on Apple TV+? When was the last time they had a comedy success like Ted Lasso?

They have a couple of things that are very good (including Russian Doll, which is better than the article gives it credit for). But it's the ratio the that's troubling: the value of [good shows] / [shows produced] is absurdly much lower for Netflix than for Apple TV+, HBO Max or Disney+. All their spending seems to result in is endless mediocre True Crime documentaries that try recapture the magic of the first season of Making a Murderer, and the occasional golden nugget you binge in a weekend.

The article makes a big deal of the binging thing, and I agree it's a terrible model compared to weekly releases. But I feel like Netflix's real problem is that they just don't make enough good stuff.