Your reesponse says netflix has deeper library and sub based business model, so thats the moat you talk about?
What about Hulu? Amazon is no stranger to sub model, witness their prime sub.
No room for growth as more competition comes and market saturates, this is basically a distribution company that will geta distribution multiple, a PE of 15 or so and with proper accounting it will earn about $3 a share. Thats when the music stops.