I don't think many people want one monolith to own all content, what they want is an easy way to watch content from multiple different content owners without having to juggle subscriptions.

music does this far better, there's multiple different platforms that all have the vast majority of music people care about, you can easily opt to rent with streaming or purchase outright and download without DRM. spotify would probably love to have tons of exclusive content, and they're trying this with podcasts etc, but the music industry hasn't been able to enshittify as much as the movie industry, yet.