Does it? Is there proof this time? Last time the media jumped on this narrative, it turned out Netflix had lost subscribers in western nations where they’d cracked down, and simply added users in cheaper emerging markets.
The fact that they are adding pro wrestling to the channel does not bode well for their future. It’s what cable networks did when they started hemorrhaging users (see SyFy).
Netflix is also getting rid of their cheapest plan. Another sign they aren’t doing so great.