My assumption: because people really want it to sound like a real word, but dropping the "N" makes a very unfortunate cognate with an offensive English term, an

My assumption: because people really want it to sound like a real word, but dropping the "N" makes a very unfortunate cognate with an offensive English term, and "FAAMG" doesn't sound like a real word. Netflix is just there to avoid what "FAANG" would be without it.