However, with Netflix, if you do have disposable income again in the future, then you can restore you position exactly. But if you had to sell your DVD collection due to a financial emergency, the cost of replacing it is greater.

It doesn't work with things like cloud storage. Stop paying, you lose your data. It also assumes that Netflix in this example wont go out of business.

The mental model is what is different. I pay X per month for Y value per month. Rather than, I pay X now for Y value forever. I may not use that Y value now, I may use it in 12 months time (for example, I still have DVDs in sealed packaging because I thought I needed the value up front).

Then I use Audible where I subscribe for X credits and once I use it on a book, I can use it indefinitely. I like that middle ground.