> Even if someone today builds a better version of what Netflix used to be, it wouldn't matter. They won’t have the rights and licenses to the shows and movies. That’s what keeps people from switching.
What, apart from Stranger Things and Squid Game, has been enough of a cultural touchstone that it keeps people on Netflix? Those aren't things you keep coming back to again and again.
Netflix doesn't own Friends, Seinfeld, The Office, Community, Parks and Rec, etc.
I'd argue Max (nee HBO) has better legacy titles and franchises. They have both enduring IP as well as the reputation of being "destination television".
The thing that keeps people from cancelling Netflix is that they have a better content slate of licensed classics paired with new originals. And they do it in the greatest volume of all the streamers, so there will be "something" on, even if it isn't particularly good.