Earlier quoted context omitted.
Netflix gets a lot of flack for their approach here, but at least they are honest about it and try to compensate by paying employees very well. The truth is there are many companies that are just as ruthless about firing employees they view as underperforming but try to hide it with layoffs and don't compensate employees nearly as well. If you take a job with Netflix at least you know what you are getting into.
Should you not expect to have a good work-life balance while at Netflix?
The problem with this whole thing is that people view working at a company of this caliber as some type of competition, they want to be the one working at the company with the best and brightest so others see them as the best and brightest.
The truth is that if you aren't really up there, you won't thrive in such an environment, and the vast majority of people will both advance the most, and be happiest working at a place where they are able to be the big fish.