I'd argue Netflix productions started out almost as great as HBO, but quickly took a dive when they started pushing quantity over quality. Now finding a quality Netflix production is about once a year. Maybe that's the same rate as it use to be?

I agree that the quality went down, but I think it might be part of their strategy.

I think when they first started, they tried the HBO strategy of putting big money into big shows that try to win over broad audiences. But over time shifted to focusing on low budget shows that appeal to specific, smaller audiences. Which makes sense, if your goal isn't to have 70% of the total market as paying users but rather 90% of the market as paying users.