Nobody's going to "win" streaming, but like so many consumer industries, it's probably going to result in 3 major services and then a long tail.

Netflix is almost certainly going to stay as one of those 3 major ones, with Disney as a 2nd. But unlike Coke/Pepsi or AT&T/Verizon/T-Mobile, you buy all 3 (or cycle through them) rather than sticking with just one.

And they're not a tech company anymore, because as you say the tech is now turning commodity. They're a content company that pioneered the data-driven approach. Their alpha is in hits like Stranger Things and Bridgerton.