The whole Netflix on-demand streaming model (also done well by Amazon Prime, Hulu and others) really appeals to me. They are going to be the death of cable television and its 300 channels of commercial-filled noise.
I realize not everything is on Netflix but there's enough on it that appeals to me that I will never run out of content to watch - even if I didn't have a full time job.
Netflix is certainly compelling as long as it is still relatively inexpensive. But you are correct - I always wonder how they make money with their broad offering.