It is. And I guess that's probably enough.

Nebula exclusives make sense and are being employed. Nebula technically has a monopoly on that content and that's why I was confused about why I wasn't worried about Nebula enshittifying. I guess Youtube-adjacent content is mostly interchangable so missing out on exclusive content isn't on the same level as missing out on a cultural touchstone TV show.

Also Nebula just isn't big enough to enshittify. It needs a far larger market share first.