There is an alternative interpretation of this play, which is that it is primarily a chess move. Demonstrating that they have the capacity to route around the content providers if necessary means that the content provider's negotiation position is thereby weakened. It may be the case that if they even so much as put out a credible series this will easily be worth $100 million to Netflix just in reduced content-provider-negotiation-position. Of course, the content providers will see that as well and react in their own ways (as always), but it's an interesting play.