[dagw]

Or maybe they're just funneling it better (big productions like Foundations instead of a bunch of cooking shows)

Is that really funnelling it 'better' though. I bet a lot more people watched that "bunch of cooking shows" that watched Foundation. Squid Games was one of the most talked about shows on TV since Game of Thrones when it came out and had a total budget that was probably less than the catering budget for 1 season of GoT.

Netflix seems to be betting big on the fact that that 50 weird quirky 1 million dollar shows of varying quality will bring in more total viewers than a single 50 million dollar prestige show.