2) Unlike before, there is such a huge quantity of material available for viewing, most people could spend their entire lives watching things they've never seen before running out. The only hit will be current pop culture, and trust me: Most people would be happier without it.
That's my situation. I have a bleepload of stuff on Netflix that I haven't gotten to yet, and another pile on Hulu. And that's just the stuff that's on my list.