If I were Netflix, I’d first block simultaneous streaming in multiple locations.
So many comments below talk about giving parents/siblings access and they barely use it (I fall in this camp). If that’s true, you’ll almost never notice the restrictions.
But if it’s Friday night and your mom is watching Emily in Paris and you want to watch Seinfeld, you’ll decide to either watch something else, pay up for another account, or decide you don’t want to pay more for something you and your mom are both wanting (at the same time).