This isn't about cable, they're sinking themselves by burying their head in the sand and pretending like streaming isn't a threat - all while bleeding subscribers.

As for Netflix, you've got your take backwards. Netflix was licensing all of the content and paying the content owners fees. NBC, CBS, Paramount, HBO (now Max), AMC, Disney.... they all got greedy. They saw the money Netflix was making, and they thought they could make more by keeping the content, creating their own services, and raking in the cash. Unfortunately that created a glut of new problems. Some of these providers don't have enough content to justify their price to consumers. Consumers struggle to find shows they want to watch now because content is spread so thin, so they give up. Most importantly, consumers feel nickeled & dimed. They don't want to pay for numerous services, so it becomes a game of "which one(s) am I going to subscribe to, and which am I going to ignore?". Many of these services have struggled and lost money, so they've decided that it's easier to license the content back to Netflix, let Netflix handle pricing, infrastructure, subscriber retention, etc., and they can cash the licensing checks.