Not really. The alternative before Netflix was more expensive cable/satellite tv. Netflix was both better and cheaper.
As a gamer I probably only spend ~£150 a year on a few really good big games and the odd cheap sale game. And I prefer not to spend so much because it feels wasteful, moreso than Netflix for reasons I can't figure.
Paying £15-20 a month is more money for something I feel I should be spending less on.