It's probably a combination of factors, like say HBO and Netflix. The calibre of what came out of HBO was something other streaming networks wanted to aspire to. Then Netflix started making originals, but the problem with Netflix, I feel that they quickly became part of the problem by producing so much content that nobody could possibly keep up with the rate of released content, while still demanding instant success.. But meanwhile other networks saw Netflix's success and wanted in on that, but found out the hard way it's not so easy and had to start selling off their shows. Paramount+'s Yellowstone franchise of shows have been appearing on Netflix for international audiences, for example.
Another part of the problem is that in order to justify a streaming service, they've been having to crank out shows at a rate that seems unhealthy, hits and misses alike, and then write off a show, even if the show hasn't even aired, which to me feels a bit like they've bitten off more than they could chew. I've always thought it was odd that they would spend so much to produce shows, only to not go and air it, which then gives off the impression that not only shouldn't have been greenlit it in the first place, but that the network doesn't have much belief in it.
I've always envisioned a streaming network to be somewhat like a vault of old and new content. The reality is that it's far from the vision, of being able to remember something you've watched long ago and be able to watch it a moment's notice, especially if it's a more obscure old show.
Another part of the problem is that in order to justify a streaming service, they've been having to crank out shows at a rate that seems unhealthy, hits and misses alike, and then write off a show, even if the show hasn't even aired, which to me feels a bit like they've bitten off more than they could chew. I've always thought it was odd that they would spend so much to produce shows, only to not go and air it, which then gives off the impression that not only shouldn't have been greenlit it in the first place, but that the network doesn't have much belief in it.
I've always envisioned a streaming network to be somewhat like a vault of old and new content. The reality is that it's far from the vision, of being able to remember something you've watched long ago and be able to watch it a moment's notice, especially if it's a more obscure old show.