If that's true, people will leave for bigger libraries and netflix will have to rotate into quantity. That hasn't been the case so far (net flix is killing everyone in terms of subscribers/growth YoY), but doesnt mean it can't be, especially with the paramount merger potentially going through.
I think it's been a little bit proven that it's more about specific shows (friends, seinfeld, how to lose a guy in 10 days, etc) that just mass amount of quantity, but we'll see