Their entire business model is that there is value in the long tail of possible choices. The paradox of choice is not a complete description of human behavior.

It is outdated. Streaming is now cable, which means the business model should revert back to be cable like. Get a couple of killer titles that carry the brand... Disney is doing this well with the Marvel titles. one ends, a new one starts, and they start putting ads of the "new" thing.

In short, without quality, there is no choice.