With recent news that reruns like the Office and Friends are leaving next year, it would be really funny if a large chunk of Netflix subscribers are literally subscribing just to watch decades old reruns. It could be a bit of an Emperor Has No Clothes situation for them.
My anecdote on this: My collage age daughter watches Friends on Netflix basically continuously -- she's probably watched every season a dozen times now -- when she gets to last episode it just cycles around again. This is because she keeps on it in the background when she's studying or doing school work.
Netflix content is a reflection of it's desire to compete with HBO, not NBC.
You need 10-20 years to do it.
This decade of outrage that we’re coming out of (hopefully) has crushed an entire generation of comedians and actors. Look at late night talk shows for example; they’re totally stale. Nobody has the balls to say anything, fearing the tweet storm will be turned against their production company.
It’ll take another generation before we’ll be in a place to create good shit again. Or maybe it will never happen again and the golden age is over?
I know that a significant portion just bing rewatch the Office and Friends, however they do not own the rights and these will go back to NBC who will just host them in their own streaming service.
This is the main issue facing Netflix. The more their competitors wise up and take their content elsewhere people will be more reticent to pay for a sub fee since there are now way too many options to choose from.