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They most likely define success as views and retention. I haven't seen the metrics, but my guess would be that most shows are "a small group of people really likes it but it doesn't draw the larger audience and as such doesn't pay for itself". Yes, a show does need to have a large audience to exist, otherwise it's a waste of money. No, the fact that you personally really really liked it doesn't make it "successful"
I canceled Netflix because they canceled so many unsuccessful shows that I thought were pretty good >

Sure, if you define success as not having been cancelled, his statement is correct