The problem with your analysis here is assuming that these right holders aren't licensing their content in these countries. And sometimes that is true. In those

The problem with your analysis here is assuming that these right holders aren't licensing their content in these countries. And sometimes that is true. In those cases, it's a sort of no-harm no-foul situation. If the person can't pay, no revenue was lost. But a lot of the time they are making it available, but Netflix just isn't the company who bought it. It is netflix's job to go and spend teh money to get content licenses for countries where they are selling their service.