Earlier quoted context omitted.
It's funny to think that pushing 196gbps is possibly just as little as ~8000 simultaneous streams. Also a shame that it is TLS'd. The content already has its own DRM/encryption.
TLS plays a different role. It makes sure you're receiving the Netflix's DRMed and encrypted content, and not some MITMed content that also happens to be correctly DRMed and encrypted, but contains something else.
E.g. every 64k block contains a SHA256 hash of the next 64k block. When a user seeks, you provide the hash of the first block they'll be receiving over a trusted channel. (It already can exist at start of stream RSA signed or whatever).
But that's probably a pain when you have so many different devices to support.
(It also makes it harder to figure out what content people are watching... Though I think they use variable bitrate encoding which will fall to traffic analysis).