I'm not saying it's bad or good. But I wish we have less Hollywood, less Netflix, less american music, less american videogames, less imported american culture topics etc when actual local music, movies, books, games exist.
And if you think that there should be more support for their producers to compete with Hollywood budgets: Have you watched the credits of any European film or TV production recently? There are lots of government funds (EU and national/local) being spent on just that.
Also, Netflix has probably done more for both the funding and international distribution of European TV shows than all European streaming services combined.
Note that they also get a lot of subsidies from the local governments to film in their location. They are not doing it for charity.
Still, I think in this case it's a synergy. I don't think something like "Dark" would have existed without Netflix, for example, nor would I be able to watch Belgian, Spanish, Turkish, Japanese and many other productions in Europe or the US that easily.