Netflix saw that, pivoted to become a studio, and has had very mixed success at that. But that's not the point: What was magical about Netflix was the depth of it's backlog and that it had so much from all over. They were an aggregator, they never had "everything" but they had so damn much that something you wanted to watch but never got around to always popped up.
But it is the point. Netflix could only do that because they had tech that the studios didn't have. The studios don't need Netflix anymore to reach their online audiences.
