One of the most overlooked trends of the 21st century is we have too much entertainment. When I was growing up, when a movie came out, you went and saw it because it wasn't going to be on TV for at least 8 months and then you could get a VHS like years afterward if you were lucky. When it came on TV it was a big deal. Everyone got home in time to watch it. Now entertainment is everywhere. It's in massive and overwhelmingly cheap quantities. The point of diminishing marginal returns has been reached and now quality becomes paramount. Netflix just doesn't have the quality, so they are going to slowly bleed off attention and subscribers because people just don't have the time to watch everything. When Netflix came out, sure it was incredible, watch as much as you want for free, but now that's not as enticing.