The DOJ presser said the site was "larger" than Netflix, Hulu and Amazon combined in terms of available content - some media reports have misreported it as larger by subscriber count
That goes without saying, content providers are shooting themselves in the foot with an atomic shotgun with the current fragmentation and lots of content is not legally available anywhere.
A tragedy of the commons among the content providers -- exclusive content is an edge that they can't resist individually, but damages them collectively.
I don't think "tragedy of the commons" is the appropriate term for what's going on here. These movies aren't a "commons", they're all privately owned by a bunch of different private entities. They used to license them to Netflix to be streamed, but now they've pulled back from that a lot so they can operate their own streaming services.
"Tragedy of the commons" is when a bunch of private interests use a publicly-owned resource in a greedy way and end up ruining it for everyone. I don't think this quite applies here, but I don't know of any other term to call it because I can't think of any non-internet analogies.