> the most basic stuff in their business, which is to produce good content in the first place, and very importantly, NOT FREAKING CANCEL the best content!

It isn't that simple. Making money from content is not 1-to-1 related with the quality of the content. There are many examples of great content that doesn't make money, and many examples of content that makes a lot of money that isn't great. Also there are many differing opinions on what 'great content' even is.

It's an increasingly bad business to be in.

Netflix burns customers when they cancel beloved shows, and they constantly have to experiment.

They now have a bazillion competitors who are ramping up comparable businesses. There's no moat or secret sauce competitive advantage. Customers are free to switch at no cost.

Bigger tech companies are using media content as simply a fringe benefit or commodity to enhance their platform offerings.

YouTube, on the other hand, is already starting to eclipse the entire Netflix business model. YouTube is a monster with a huge and enviable moat, and it's only going to continue growing. It's a much stronger business model and they have a sticky and growing user base.