Unfortunately, as Netflix grew, it was largely inevitable that the big networks / studios were going to think that licensing their content to Netflix was a worse option than spinning up their own streaming services, they want to, at the end of the day, own as much of the relationship and the pipeline to the customer as possible, and they weren't going to get that with Netflix.

Netflix ended up in a race to acquire content defensively against the dwindling prospects of major licensing renewals, for example, Disney pulled out of Netflix almost completely.

The honeymoon period of just about everything being on Netflix was either dead or near dead by 2020.