Not to mention they're up to $12/month. Creating movies and shows is significantly more expensive than music, so it makes sense the price to a catalogue would be scaled by an order of magnitude. Not to mention the increased costs for digital providers for storage, bandwidth, and compute requirements.
I'm, of course, more than happy to hear about how the reruns of Friends could stay on Netflix since it's just a dispute about perceived value. But the rest? Come on, I know you aren't totally ignorant on the economics of these markets.
The breaking point is generally around 3-4 of the paid streaming services... many people are going to have Amazon as a baseline for shipping... then you get shoved D+ with every kind of bundling (Verizon, etc) under the sum, then Hulu may or may not be attached... People pay for Netflix out of legacy... that doesn't leave much room for Peacock, Paramount+, AppleTV, etc, etc. It's just easier to say f*ck it and pirate.
Hulu was great for the first couple years... minimal ads, new tv shows same or next day. Then the partners all dropped out with greed as primary motivators.