Disney literally made Disney+, because of Netflix. That is how Disney+ started.
Then they started charging money for their movies on the service, which people were pissed off.
You also dont devalue games. That is just plain false. Or else infinity war, end game and all the best movies in the world are shit.
Hell even Spiderman, God of War, last of us 2 were on psnow. Does that mean those games are shit, because they are on 3m service?
As long as you enable the purchase functionality on these services, you aren't devaluing your games.
God of war is the official game that managed to sell 20m on Ps systems only. It took 4 years to reach that milestone. On average, that is $40. It managed to get $800m in 4 years on a bigger platform. You can make that money from subscriptions service, which brings way more than that.