I agree that the ratio is crazy. What if it's still a "content acquisition" phase and only when their sub list reaches some huge N, they will try to figure out

I agree that the ratio is crazy. What if it's still a "content acquisition" phase and only when their sub list reaches some huge N, they will try to figure out to get more money out of it? Or a LOT MORE depending on how shady they are willing to go. I guess, for creators it will be quite painful to migrate. Definitely a crazy multiplier, but not the craziest on the market given other parameters.