Edit: I agree Netflix has good Originals. But most are from the early days when they favored quality over quantity. It is sad to see that they reversed that. They have much funding power and should give it to great art that really sticks, has ambitions and something to tell, and values my time instead of mediocrity.
That said, I'm more uncomfortable with the continued consolidation of media ownership and more outsize influence of FAANG tech over media.
Ever year there are a few good shows and movies and a lot of mid-to-bad shows and movies.
This is not a Netflix thing, nor is it new.
https://en.wikipedia.org/wiki/List_of_HBO_original_programmi...
I don't recognize half the titles on that page.
They also make less content overall. This makes sense because they are one TV channel and assume you can get your reality TV fix somewhere else.
Netflix wants to be the only thing you watch. So they have to serve all needs.