It is good, if the competing products/services are interchangeable and they need to compete on factors such as price, convenience, or reliability. For example, competing grocery stores, all of which offer by and large the same products. Or competing mechanics, all of which can perform service on your car.
Streaming services don’t do this. They have carved up the market and “compete” by making you choose which products you want more.
Imagine two grocery stores, one of which had all the ice cream, and the other had all the chocolate, and neither could carry things that the other stocked. That is what streaming services are doing.