I just bailed on Netflix. I think the content on the streaming side sucked, but my kids watched it occasionally. I cancelled the streaming at the price hike. I liked the DVDs but the new releases were not really "new" and were always on a long wait. I just cancelled the DVDs.
Streaming and DVDs at the old price had value for me, but not for the new price.
Now I go to the local video store and rent the new releases on the day they come out.