Most companies treat price as a number finance picks once a year. Netflix treats it as a product surface — designed, tested, versioned and communicated. This teardown reads the current three-tier US line-up plus the extra-member add-on as deliberate product moves: tiering on value the customer can actually feel, turning the ad tier from a concession into a growth engine, and monetising password sharing without a revolt. The closing lens asks what an industry that already prices on risk still gets wrong about pricing as experience.