> If WB was any good, would they have been snatched up by Netflix?

Yes because the situation of WB has nothing to do with their performance.

In 1990s they merged with TIME publishing right before the internet killed all magazines. In 2000s with AOL right before th dot com bubble. In 2010s with AT&T who realised they needed a shit ton of money to roll out 5G so they took a massive loan and charged it to Warner debt.

So WARNER keeps performing and the business side keeps adding debt from horrible decisions