Why change you mind, you are right. I have held this view since 2012.

I have written about this before, but Netflix is a premium cable channel like HBO or Starz. It has premium original content and it buys content, it's Achilles heel is that no studio will do a studio deal with them anymore like they will do with HBO or Starz for major movies 1-2 years after the theatrical release.

The US market is saturated, and to keep growing they need to go international which requires understanding many diverse and unique regionals preferences for content, and viewing habits. In additional to creating regional content or buying regional content, they also have a lot of competition, and it is only going to get worse which will cap any price increases for a subscription. That is a problem since original content is like VC funding startups, 1 in 100 is a hit, which is why studios do pilots.