Netflix’s goal is to eliminate theatrical entirely. They’re not shy about that. Their public statements about releasing WB films theatrically have been very, very cagey and they haven’t been able to even maintain the pretense of intending to do so consistently. Netflix is built on “content,” not film. They see it as a different business.
I dislike streaming generally for a variety of reasons but Netflix is absolutely the bottom of the barrel. Apple actually has a strong record and both HBO and Disney occasionally produce interesting and/or fun content. Amazon has a lousy batting average but Fallout is fun. Netflix, however, consistently turns out garbage, and that’s largely by design.