Earlier quoted context omitted.
Care to elucidate that point? So if netflix streamed their content with no-DRM (which none of the content companies they license from would allow, but we'll skip that fact) you assume no one would just get a subscription, copy their entire catalouge, and freely distribute it? Doesn't sound like a very sustainable business model to me...
DRM didn't stop House of Cards from appearing on PB: http://thepiratebay.se/search/house%20of%20cards/0/99/0 I don't see Netflix going out of business because of this.
If they streamed videos with no-DRM, everyone with a subscription would easily grab a copy of whatever they want. And all it would take is copying a file and sharing it with friends/family to have it spread. This might not seem like a huge difference, but honestly I think it would be. It would lower the barriers of sharing to the point that everyone could do it. Only those who hold onto a moral belief in not committing copyright infringement wouldn't participate. I think the past has shown that these people are in the vast minority.