In the long term only content matters, not distribution. Netflix has built a very technically impressive distribution platform, but it is only as valuable as the content they have the rights to deliver.
It will only get easier and easier to make a distribution platform as the technologies required get cheaper, and the body of knowledge of how to do it grows.
Disney's content library is already far more valuable than Netflix's and acquiring Fox only increases the gap.
If we as a society are going to grant someone a monopoly over an idea. Then they should have to allow distribution via multiple channels and not restrict the content to just approved or exclusively owned distributions channels
I should be able to watch the shows I want on what ever streaming services I choose to use, be it netflix, Hulu, Amazon, etc.
One should not have to subscribe to all of them just to get access to a single show, or single movie they want that is "exclusive" to that platform.
It seems Streaming services are going the exact way Cable Channels did, only more costly...
We are quickly coming to the point where you have to have 6 or 7 $10-$15 per month subscriptions to several different providers to get Sports, Movies, and TV Shows you want...
At that price point you might as well just subscribe to cable again...
If copyright were a more reasonable term (say a 20 year term with registration for a 20 year renewal, which would allow most works to be available quickly, but also allow creators to control their works for the majority of their lifetime), then there would be less of an issue.
e.g. the early seasons of MASH would now be public domain under this rule, so they would probably be available on every single streaming service, as would the first two generations of Disney features with the 3rd generation starting to become available at the end of the 20s.
And this doesn't even capture the opportunity cost of all the works we don't have because of long copyright terms. Under today's rules, Tchaikovsky's estate would have held the copyright for his ballet still in 1959 and the Disney version could not have been made.
I watch far more original content from Netflix and Amazon than Disney and Twenty-First Century Fox. Disney's market cap is only double that of Netflix. Considering Netflix doesn't own theme parks or run a merchandise machine, I'd say they are more well positioned with content than you portray.
It will only get easier and easier to make a distribution platform as the technologies required get cheaper, and the body of knowledge of how to do it grows.
Disney's content library is already far more valuable than Netflix's and acquiring Fox only increases the gap.