Yeah, streaming is 100% a money loser right now. They are basically doing what Uber/lyft did during the heyday (pay drivers well and offer insane discounts so that there will be more users joining their platform, the focus being on increasing the number of users to their platform). Uber and Lyft were huge money losers that were losing money for every ride offered and only survived because investors thought it was a winning idea and basically funded them. Now that Uber and Lyft are the only ridesharing competition around after killing the rest, they have raised prices and are finally starting to be profitable.
Streaming is currently in the exact same situation. Spending money and incurring huge short-term losses for the prospect of long-term profits once the market has been widdled down to a few key players (ideally a monopoly). This necessitates streaming platforms charging less than necessary to attract subscribers with the intention to raise rates once there is no competition left (and thus the user is forced to use their platform at the higher rate).
Unfortunately, these studios dont have investors willing to bankroll them and are also eating into their own profits with streaming taking revenue away from movies and tv shows with ads. It was stupid to announce that they were going to try to starve out the writers but I do think Hollywood needs to be more austere with their spending with the heyday of the majority of actors, writers, and directors making millions coming to an end.