Netflix as your main service
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This question is really about library breadth, habit fit, and how tolerant you are of the gaps any single service leaves behind.
Direct answer
Yes, for many households it can. Netflix is one of the more plausible single-service subscriptions because of its breadth.
What decides it is not just catalogue size, but whether Netflix's strengths overlap with the things you actually reach for every week.
What matters
Yes, for many households it can. Netflix is one of the more plausible single-service subscriptions because of its breadth.
When Netflix covers most of your weekly viewing or listening without obvious gaps.
It becomes a weaker only-service choice if the main things you watch sit outside Netflix's strengths or if price matters more to you than catalogue breadth and convenience.
Full answer
It becomes a weaker only-service choice if the main things you watch sit outside Netflix's strengths or if price matters more to you than catalogue breadth and convenience.
A service can be perfectly good and still be a poor only-service choice for your household. Netflix works best as a main subscription when its core strengths are exactly the areas you care about most. If it only covers one slice of your routine, it is better treated as part of a stack than as the whole answer.