Microsoft has consistently been in the top three companies by market cap — whereas Netflix is basically nowhere to be found — but I guess FAAMG just isn’t as cool!
Netflix pays engineers a lot and presents an interesting technology challenge. But you're right. They're actually a pretty amazing story. Burned 10 billion in the last 5 years and probably at least double that over their life. And they're on their third business model at this point with the first two having, more or less, failed.
