I suspect Netflix, like a number of big companies, has just seen what happened to Disney and decided 'Y'know, maybe fighting this big cultural war isn't a good idea after all.'
People want to believe 'get woke, go broke' isn't a thing. The problem is that it IS, but it's been ameliorated through (a) diversification of projects -- a movie studio can survive a bomb if it releases a blockbuster or two to make up for it, and (b) people throwing money at the problem, i.e. Larry Fink and his ESG games.
You take away the props and you get failed productions, failed companies. It's like how liberal radio talk shows have foundered repeatedly, despite incredible funding and publicity. Nobody wants to listen to them. Partly because they're shit, and partly because, well, if I wanna hear leftie talking points I can just turn on CNN, MSNBC, ABC, etc, etc.
The fact that Disney just got their special toy taken away -- one that they CANNOT get back, because the Florida constitution specifically bars the further establishment of those 'special districts' -- has startled a lot of people. The House of Mouse just got slapped, and they have no recourse save to fling desperate lawsuits and hope that something sticks enough that they can put off the reckoning until DeSantis is neutralized.