That’s correct, and I’m personally dissatisfied with the content currently available on Netflix, as well as the distribution of content across too many services. But it would be disingenuous to describe it as a market failure when the market was responsible for creating the industry in the first place.

If there’s a critical mass of consumers unhappy with the current streaming landscape, the providers will be forced to improve or risk being replaced by superior competitors. That’s what happened to Blockbuster as well, and what I suspect is going to happen to many major providers in the coming years.