It would be so much better if the user could just watch the encrypted video feed in just any player they want (provided they interface with a libnetflix library...)
The only reason I have left to pirate a movie that is available to me on netflix is to get more stable playback, the ability to play slightly faster, and the ability to use Smooth Video Project.
It's obvious that DRM-based platforms have driven TV manufacturers to implement expensive frame-interpolation into their displays, when it can be done much more efficiently at the decoder level, on machines where it makes sense to already have a fast GPU. This is the thing I find most frustrating with this situation.
It's really not hard. The real problem is that because it's closed-source software, the user must rely on the creator to think of every edge case.