I did not share my password and Generally only watched on one screen. I'm sure they can tell. But they just kept jacking the prices up while lots of content went to other streaming services. The Balkanization of TV content.
[1] Drive to Survive is a good example of this - once a year bait to get people back. I imagine there are similar single-show subscribers in other genres that cancel immediately after.
I'd say that it originally was reversed. With the advent of streaming, they saw the writing on the wall that all studios would prefer to have their content on their own platform. Like, duh! So in order to combat the loss of that back catalog content, they had to become a content company. They just can't compete as well now that everyone has their own platform that needs content.