I'm sure all those things are possible, but it's also pretty likely that they're actually producing and distributing content in 4K and Dolby Vision.
It's just a matter of fact that, for various (many) reasons, people will get 720p streams. Some of these people are paying $3/month for "Premium" with "Ultra HD" and simply do not notice that they are not getting 4K streams. NetFlix would probably rather keep the $3/month, the alternative would be to educate their users about why they are are not getting 4K (can your TV handle it? can your playback device handle it? are they connected correctly? are they configured correctly? do you have sufficient bandwidth? are there problems with your ISP? does your device have the right DRM?) and this is both time-consuming and likely to create a bit of a support nightmare.
But yeah, I think the actual presence of additional dynamic range is pretty noticeable for most well-produced content.
Just like how TVs come with default settings that mangle the picture quite a lot, and only some people will fix them.