On the other hand, can you swear that Netflix is doing all that it can to minimize bandwidth?
There's a conflict of interest: Netflix has a vested interested in provided lightly-compressed, very-high-resolution, bandwidth-hungry movies to its subscribers, especially if it obtains 100% free peering that it demands, as bandwidth would be free for them. On the other hand, ISPs are forced to upgrade network any time Netflix unilaterally decides to increase the bitrate of the movies, without this bringing any benefit to their bottom line.
For instance, if Netflix halved the bitrate of all their movies, subscribers will complain, but surely they would be able to deliver them without any buffering to everybody, and at the same time to keep free peering agreement and whatnot; they would go from 35% of total US bandwidth to 17%, and ISPs would be satisfying their customers' choice.
So where do you draw the line? Surely Netflix can increase the bitrate at will, at any time; should they be "allowed" to do it any time they want, while keeping a free peering agreement? Should the ISPs be forced to upgrade their network every time?