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I’m pretty sure Netflix only requires 4K for their original content. A lot of bigger budget movies are still shot at 2.8k and 3.4K and they end up on Netflix.
Considering 3.4K looks fantastic on a big screen in a movie theater (especially from a laser projector), the idea of 8K and beyond for home viewing on 50” TVs seems beyond dubious.
The K-Wars strike me mostly as an attempt to continue to get creators and consumers to buy more and more things, none of which will help them create better content or enjoy watching it more.