In particular, they have been revising their compensation structure to issue RSUs, add in a bunch of annoying review process, add in a bunch of leveling and titles, begin hiring down market (e.g. non-sr employees), etc.

In addition to doing this, shuffling headcount, budgets, and title quotas around has in general made the company a lot more bureaucratic.

I think, as streaming matured as a solution space, this (what is equivalent to cost-cutting) was inevitable.

If Netflix was running the same team/culture as it was 10 years ago, I'd like to say that they would have been able to pull of streaming.