What happened to Netflix?

I decided to watch a movie tonight. I pulled up Netflix and looked at my queue, and it struck me how ridiculously few items from my queue were available for streaming. So few that I decided to count them. I have 257 items in my Netflix queue (counting multi-season and multi-disc entries as a single item). Of those 257, only 28 are available for streaming. That’s just 11% coverage. In addition, 12 aren’t available for streaming or on disc, leaving 217 to rent as discs.