Radical idea: Limit sharing to a set number of hours per month. Not that I want this, far from it. I have enjoyed sharing my parent's account for many years. However, the total time that I spend watching Netflix is around 1 hour per month. I'm not a heavy user. I'll binge season 5 of the Crown but may not watch it again for a month.
My parents on the other hand use it more. When we run out of sharing time, I can no longer access it. If I really, really want it, I can get my own account. I feel like that's a good middle ground, particularly for those with kids off at school.
My sister never watched Netflix. Rather, she traded her password with friends and family in exchange for access to their streaming accounts. Now it's going to become worthless as barter for her, so she cancelled it outright.
My parents on the other hand use it more. When we run out of sharing time, I can no longer access it. If I really, really want it, I can get my own account. I feel like that's a good middle ground, particularly for those with kids off at school.