My perception (maybe incorrect) is that it's harder to play online multi-player games using cracked copies of games without getting found out and banned. Also the risk of getting some malware with your cracked copy (single- or multi-player) is very real, something you don't really have to worry about with a video file.

Regardless of that, the model is just different: if I can pay Netflix $15/mo for unlimited access to their entire catalog -- and their catalog includes everything I want to watch -- then I'm not going to need to go elsewhere, and I'll be happy. If I do, those monthly subscription fees are going to start to add up and make me unhappy.

But Steam doesn't have a subscription service; you pay individually for each game, and there are pretty frequent sales and discounted bundles. If Steam doesn't have a game you want, you buy it from someone else that does have it, and your cost is essentially the same as it would have been if Steam did have it. (Some games do require a subscription, but that's also not really the same thing as Netflix.)

And the usage is just different, too: if you buy a game, you're probably going to play it for many tens or hundreds of hours, over months or maybe even years. For a movie or TV show, you're going to watch it once, most likely, and that's it. When you think about it, $60 (often less) for a game that you get years of enjoyment out of seems pretty reasonable. But then you look at Amazon Video, where you can rent or buy some titles, and the cost is going to be $3 for an hour or two of entertainment, if you're only renting. $3 bucks for two hours vs. $60 for hundreds of hours? No contest.