It's definitely a thing. I remember when Lost first aired I had lengthy discussions every week with friends, I even logged into Lostpedia to browse, exchange theories etc.

By comparison, the first Netflix show I remember really watching was House of Cards. Tried to have conversations with friends about it but inevitably you'd start with "oh, what episode are you on? Is that the one with the...? So you haven't seen...?".

Discussing an entire season when it's complete is definitely less fulfilling than discussing each episode. Depending on the show, of course.