They were kind of in a no-win situation for a while with content (either good content that couldn’t retain subs or floods of good/bad content that, probably, did retain subs but lowered the bar).
Now that their library at least exists, one would hope they’d shift investment to both UX and diving headfirst into quality to try to compete at some level with Amazon’s capex spend. Sure lots of people online didn’t like LoTR but it’s a flagship example of good use of capital, and the show was highly streamed - Wheel of Time Season 2 being another good, perhaps even better example, given the turnaround from S1.