Totally false. The competition is in what shows people watch. The Pit not available on Netflix? Oh well, I’ll watch something else. There’s plenty of content. People are not subscribing to BritBox just to watch one show the heard was good.
E.g this survey: https://www.nexttv.com/news/a-hit-driven-biz-40-of-consumers...
"40% of Consumers Sign Up For an SVOD Service to Watch a Specific Show"
Or this Ipsos survey:
https://www.marketingcharts.com/digital/video-235725
[...]almost 4 in 10 (38%) agree that they often subscribe to a channel to watch a specific show[...]