> The there is definitely a question whether, now that they have moved so solidly into content production, Netflix is actually a scalable / viable company any more. When they were just sending other people's content around and doing it much cheaper and better that was innovative and different.

to borrow cliched terms, big companies protect their position by either building a monopoly (Bell, your traditional telco) or building a moat (Apple). Netflix started with an effective monopoly on film distribution/streaming. at some point Disney & friends extended their moat vertically (Disney+), eating into the distribution layer that Netflix previously monopolized. perhaps leadership understood the monopoly would only ever be temporary and decided to build out their internal production house as such. whatever the case, Netflix still has the possibility of transforming this into a moat that stands alongside the other players in this space. maybe it can exist as this, but it will surely be less profitable than its monopoly days.