All the naysayers were correct. Netflix is losing money and subscribers in North America.
Netflix did add subscribers, but not in the markets where they cracked down on password sharing. They added subscribers in countries where they don’t charge very much for subscriptions. So they didn’t make much money from the new subs.
Sure, in reality. Capitalism isn’t designed around reality.
So it’s broken. Because it doesn’t work in reality.
It’s functioning exactly as designed. That’s not broken.