Streaming seems to be working great, if you invest in decent originals that subscribers like, regularly, with realistic-but-modest budgets, and sell that at a cheap predictable subscription. (It's working out great for Paramount+, it was working pretty well for HBO before Discovery decided to kill off all of Warner Brothers)
But like, AMC doesn't seem to be doing much of that. If you love the "Walking Dead Universe", yeah, AMC's gotcha covered. For anyone else, there just isn't much here.
The last time I heard of an interesting AMC show I personally wanted to watch, was "Dispatches from Elsewhere" back in 2020 (and at that time, you weren't even allowed to pay them money to watch it, you had to buy a whole cable package)
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Streaming isn't struggling, it's just competitive. You can't expect to execute poorly, fumble your way through and still magically make a lot of money.