I think Netflix execs are shrewder than that tbh.
The contract headline total was big and flashy, but it will have placed the production costs on Archewell, and on milestone delivery of content, potentially also on condition of performance of that content.
The only hit was their interview series.
Let's say of the fabled 100 million:
20m for the interviews, less costs, full whack for new subscribers. Let's say it hit all targets, they got that, and spent 3m on production costs.
Pearl - 2m. Oops, you've done your first cut and we don't like it, here's the milestone 250k payment.
Polo - 5m. Ok, we'll take that for 2m completed. Oops, no new subscribers though. No bonus. 1m spent on production costs.
Made up figures, but I sincerely doubt Netflix have lost on this. They're renowned for being ruthless with contract performance.