Are they? They're certainly good at buying IP that people like, and now they own a big back-catalogue of beloved franchises. But the vast majority of content they pump out these days is mediocre at best. They own so much that if you want to go to a theatre to watch a movie, your pickings are essentially all owned by Disney. They generally make money but it's because they bought everything.
I can definitely think of more Netflix originals that I've enjoyed in recent years than offerings from Disney's zero-risk, safe, predictable gray goo.
They've "thrived" because of what I just said - Disney has a near monopoly on blockbuster movies that come through theatres, but that doesn't mean it's good content people want to watch, they just don't give anyone much of an option.
I don't think their model would work if they just dumped all their content on Netflix. If it's not working with Disney+, why would it work in another service that's the same thing with a different name? People have plenty of options of content to stream that aren't from Disney, so their status doesn't mean anything in that space.
Also it's not "great partnerships," it's monopolistic purchases that allowed them to buy their way to their current position. And even with the well-beloved IPs they acquired, they still manage to fumble things. Look how badly they messed up that Star Wars trilogy. They're not good at making content.
Are they? They're certainly good at buying IP that people like, and now they own a big back-catalogue of beloved franchises. But the vast majority of content they pump out these days is mediocre at best. They own so much that if you want to go to a theatre to watch a movie, your pickings are essentially all owned by Disney. They generally make money but it's because they bought everything.
I can definitely think of more Netflix originals that I've enjoyed in recent years than offerings from Disney's zero-risk, safe, predictable gray goo.