The incentives are misaligned. Netflix, Amazon, Disney et al, aren't interested in showing me what I want to watch for a purchase price, they are after my attention, and to divert me to their most profitable revenue stream (Netflix in house creations etc). My attention is not for sale, I'll buy content if it is sold in a manner that is attractive to me in a consumer friendly model, Louis CK selling his standup specia…
Other services are going the same way. Netflix being a first mover was able to license a lot of content for what must have been more favorable rates, now that it's much easier for a studio to spin up their OWN streaming service (there are vendors out there that will sell you, essentially, a streaming service in a box) they are experimenting with increasing their rates for licensing and simultaneously running their own service.
This is all region dependent of course. Often you'll see stuff available only on the studio's streaming service in north america, but licensed to more general streaming services overseas.
We'll see how this shakes out. Perhaps someone like paramount determines that their in-house streaming service just isn't profitable and move back to a licensed model.