It's a mercenary approach, interesting even just as a sociological experiment. Obviously a lot of people don't agree with the methodology, but Netflix isn't hiding anything; if you accept a job at Netflix then be prepared for a mercenary culture.
Ultimately, I'm most interested in seeing the results. Does having this mercenary culture increase or decrease the quality of the product? Hard to measure, of course, but if the ultimate answer is decrease or no significant change, we can probably all agree it's needless and potentially cruel.