In my experience, Netflix streaming is light on content, but not too close to empty. It's way better than Cable's original VOD.
As the model grows, Netflix either will or will not be able to license reasonable amounts of content. That's the big Q.
At this point, I don't care if Netflix dies and croaks. (1) they don't allow the streaming to be tracked for alternate users of the account, littering my main account person profile with someone else's tastes, and Netflix hasn't offered a tool to move their preferences from one person to another because of this horrible situation. (2) Netflix doesn't allow you to delete another person, so when you change the name, their old preferences influence the new person. (3) They don't take PayPal or prepayment (including money orders). If someone replaces them that does all this better, I'd be happy.
I lost a bank account due to Netflix, because they were the only company that auto-debited my account without my specific each-time approval. I didn't have this problem with any other recipient, because all the other recipients didn't auto-deduct: I had to specify each amount to go to them and the time.
So, if Netflix's business model withers and fades, good riddance. The online streaming is a no brainer. Their implementation of it technically is quite good. Their administration of it sucks raw sewer.