The streaming services really fucked up to an unbelievable degree. They had done the impossible - persuaded people to give them money instead of downloading for free.
But no they had to get greedy and managed to snatch defeat from the jaws of victory
I have a hard time blaming the earlier services, especially Netflix. They had a great product, and a great catalog. But then all the studios wanted to run their own streaming services, and pulled their content from Netflix. So then Netflix has to go and find ways to retain customers and increase revenue, and once you get into that game, the customer experience is going to suffer.
If the other studios had just left well enough alone and left everything on Netflix, it would have been fine. I'm not a fan of monopolization, but in this case it worked. A better model would be compulsory licensing under RAND terms. Then every studio would be required to license all their content to every streaming service, and then the streaming services would actually have to compete on quality of experience.
But no they had to get greedy and managed to snatch defeat from the jaws of victory