I’m assuming (in addition to first mover advantage and ZIRP) what really made Netflix work is for a long time they had very low content costs because the studios were too dumb to know what they had
I feel that paramount has a very specific offering- it’s the Star Trek TV service. All old and new, the only place it’s available- that at least seems like a viable model, particularly when they aren’t producing so many new shows (and when they do, not that many episodes)