Frankly, they shouldn't have increased their subscriber fees recently. It's not the time. They could've done it closer to the beginning of the pandemic, when it wouldn't have really affected the amount of subscribers, as people would've kept subscribed anyway - but to do it now was suicide. I know at least 5 people - personally - who quit Netflix after that.
The password sharing thing is also huge, as due to the insanity of the fragmentation that the ludicrous number of streaming services has caused, a lot of friends and families cope by subscribing to one service apiece and sharing them among each other.
As soon as these little tricks stop working and it becomes more expensive, people will just drop it. It's not like Netflix has actually worked on any value adds recently - tbh I feel their content offerings have gotten so poor recently it's next on the chopping block for me, too.