I think it's mostly that. Netflix is the Facebook of streaming services. Or the McDonalds, Walmart, etc. It casts such a wide net. People will sit through hours and hours of Netflix content just because it's on Netflix, as opposed to seeking out content elsewhere. And there is a ton elsewhere. But most people aren't going to look.
Word of mouth is a thing too. At work I will hear people talk about binging an entire long series, and sometimes their review will be "meh, it was okay." Always cracks me up.

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