Hold on a moment here. Where do you get theft from? This is a company seeking to extend the terms of a contract outside of the business relationship and put enforcement clauses in that can be used to put someone in jail.
This is a private business dispute between their customers and the company. Since the company doesn’t want to tick off their users by putting in account restrictions, they’ve decided to convince legislators to enforce the contract with possible jail time.
Netflix could easily restrict by IP, distribute a key CD (like they have in the past) or put other restrictions in place. They don’t want to.
You hold on a moment here. I am assuming the company is looking for clear legal protection for their terms of service. You are assuming they have no terms of service.
Do you honestly think it is not theft for one person to allow his personal account to be used by, for example, everyone on a college dorm floor?