How do you reconcile with the fact that P/E ratio is still just 56. In 2000, just before the dotcom bubble burst, Nasdaq stocks traded at a staggering price-earnings ratio of 175.

Also, Netflix revenues have been growing at staggering rate too: https://ycharts.com/companies/NFLX/revenues. Remember market responds to change in revenue over time, not the absolute value of revenue. I think it wouldn't be fair to say that stock prices are completely out of sync with revenue growth.