I'm not sure if this premise is true. At the Emmy's last year they won for The Crown and The Queen's Gambit. Were obviously nominated in plenty of other categories.

I generally prefer HBO Max in that if a new show comes out there is a much higher chance it is something I'll like - though Netflix makes so much more it's probably about even in quantity of shows I like.

My guess is making shows is very expensive and a gamble! Plenty of projects that look good on paper get panned. Plenty of shows that are considered "crap" probably get a huge amount of views against their cost. I still think this is a semi-overlooked problem to have such a large brand, but ultimately tough position to be in.