That's not particularly informative, though. It could be true right now. "Users" is not a group with a fixed population.
If they drive their content quality into the ground and hemorrhage users as a direct result, it would still be true that the quality of the content was uncorrelated with the amount that users consumed. Instead, quality of the content would correlate with number of users. But the users are always people who are willing to deal with whatever the current content is!
What's weird is that, as a flat-rate subscription service, they're already aware that increasing number of users is good, while increasing the amount of content that users consume is bad.
When we want to watch something together, we are renting on demand movies or even driving to redbox and picking up some snacks at the same time.
Netflix is slowly turning into a weird mix of "high production quality Lifetime + HGTV" and imported dramas from places with strong media like Korea.
Lowering tye quality may not change viewership, hut it radically increases your likelihood to realise it's a pile of garbage one day and go climb a tree.
So there you go. I found the same, 10 years back I would read about something amazing and critically acclaimed -- and they'd have it!
Now rarely do they. But, my wife and I still watch a lot of Netflix. It is the service which seems to have many things she wants to watch and a good amount of things we both want to watch.
Things only I want to watch I mostly find on Hulu and HBOMax. Or I have to watch them the old fashioned way because they are too obscure to be on a streaming platform.