I don't disagree, its their tv series content that I think is over priced.
The Get Down cost more than games of thrones, how that was greenlight is amazing to me, whoever greenlit it needs to be fired.
If I'm netflix I do what you say buy films from festivals and distribute them to theaters, on top of that I introduce a Netflix Theater level, where the movies they own distribution for that are in theater can be viewed immediately for say 30 dollars for that film, before it filters to regular netflix, that way they can eat on both ends.