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No streaming service has a "on[e] account per household" rule so I'm not really sure what you mean. Are you saying "what streaming service allows password sharing?" The answer is all of them except Netflix and Apple sort of (Apple cleverly tied it to having an Apple ID so credit where credit is due. It's just too difficult to password share outside your family. But in theory you can).
I didn't cancel netflix, but I didn't bother to make my own account when I got booted from my parents' account. Because Netflix doesn't make enough good stuff to justify it anymore and they cancel everything too quickly. I'm actually happier paying for Apple TV+ or whatever it's called because the price is good and the content is like nothing I've ever seen half the time. I can just browse PlutoTV and/or Tubi and I've got 90% of the quality I see at Netflix for $free.99.
This is a tad dramatic, we don't have a moral obligation to netflix. Account holders agreed to terms and to make it sound so important as a personal promise is a bit much. Either way, you're totally right, Netflix is within their rights to boot people. I think most people get that. But they also allowed the status quo for 16 years, so this is their fault. They set an expectation and created a sharing culture that almost, quite literally, crosses generations. They wanted to be in more homes faster and that was the cost. Then they're surprised when they say "hey it's over" and people are vocalizing their displeasure? Again, it's their right, but what did they (or you) expect to happen?
Either way it doesn't matter. If their balance sheet works it works. I just can't quite see why you're riding in defense of Netflix.