I'm not sure how causality works on that one. Netflix made great stuff, back when streaming was still a small market, then they got big and started making trash.

It's not like they weren't trying to attract everyone when they were releasing content worth watching. Maybe it's because they didn't have any feedback yet on what works, so they couldn't even try to make safe bets, instead creating a little of everything, with most of it being bland, but a surprising portion being top-tier.