Still waiting for any evidence at all that it has anything top do with "wokeness".
Some of Netflix's more popular shows, like Bridgerton and Sex Education, would probably be considered "woke".
I think the main reason Netflix has lost subscribers is that there has been a big increase in the number of competitors and the quality of what they're bringing to the game (Disney Plus, Amazon Prime, HBO Max, Apple, others).
This article goes into some depth, with thoughts from analysts and anonymous industry people on what's up with Netflix:
https://www.vulture.com/2022/04/netflix-bad-decisions-have-caught-up-with-it.html -k
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