That and they used to have an excellent catalog of movies. I haven't watched a full length feature film on Netflix in almost year, because all of it is such garbage. Prime Video has a better movie catalog than Netflix now. My kids very occasionally watch something on Netflix Kids, but that's not even compelling these days. It's a running joke in the household that my spouse will spend an hour trying to find something decent to watch, only to hand the remote to someone else, who immediately exits Netflix. And their original content is so bad often enough that we have to look at online reviews just to try to avoid wasting 30 minutes on something that'd make a B movie look good.
Netflix absolutely needs to deal with shitty content for the same reason that Amazon needs to deal with fakes or crap: it's an existential threat to their brand.
Being Walmart doesn't work in a digital space, because you can't starve the business out from the physical neighborhood around you to prevent competition.
And once people get it in their heads that "All movies on Netflix are trash" or "All stuff on Amazon is trash," you have a much bigger problem.
Honestly I don't know why I'm still paying.