I really think this is overblown. Almost all the services encompassed by the term are luxury. We don’t need Netflix. Just stop paying for it. Businesses all follow a similar trajectory: concept -> growth -> monetisation -> decline. If you’re over 30 you’ve seen many companies rise and fall. They all fail eventually, and from their ashes rise new companies. If you’re ambitious, you’ll capitalise on the opportunity and your company will fill that gap.