I feel that Netflix cancelling shows isn’t the problem. I have always been an advocate of throwing stuff against the wall and seeing what sticks. The problem is that producers and show creators don’t quite get the formula yet.
Their desire to create a “hit” leaves the most annoying of tropes, the season ending cliffhanger. If show creators, and by extension Netflix producers, created encapsulated seasons, we wouldn’t have this problem. If a show is a hit but doesn’t have that cliffhanger, the creators can always find a new story to tell.
Bridgerton is a great example of this. Netflix is the perfect medium for long-format movies, not serials. Once producers get their heads around this, there will be far less disappointment and much greater experimentation and risk for both creators and viewers.