Whatever the immediate calculation, I can see the argument for clamping down on password sharing from a brand perspective. If Netflix continues to have a reputa

Whatever the immediate calculation, I can see the argument for clamping down on password sharing from a brand perspective. If Netflix continues to have a reputation as something you can just mooch from someone else, it ends up devaluing it in people's perception, and the longer they let it go on, the worse it gets (even if they've probably left it too long already). So I think you're right that their doing it based on emotion, but it's probably more about overall strategy than just the math of how much money they'll lose in the short term.