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.