There are a handful of people that are capable of producing "Sustained A-level performance" and for them this workplace probably seems ideal.
Even for the engineers that could reach this bar, it's a very high standard to apply constantly. There's another slide that gives a slight allowance for temporary performance issues, but that lack of security is hard for most people.
Slide 34 to be exact says this about Loyalty. "People who have been stars for us, and hit a bad patch, get a near term pass because we think they are likely to become stars for us again."
"A bad patch" is pretty loosely defined, if you burn out achieving something, or are assigned a problem that is particularly difficult, how much leeway do you have?
I don't think it would be an environment I would particularly enjoy, but I think to the original post's point this is a pretty great set of values because it really clearly articulates the trade-offs. If you are a 10x engineer and hate working at $current_company because they care about hard work and that's frustrating because you work smart not hard and you are comfortable with your career being contingent on consistent high performance, then Netflix is the place for you. If you work hard but think this would burn you out, look somewhere else. And that's what values should do, declare the trade-offs and take a firm stance on which things you value.
