Nihilism, as Striker says, unfortunately almost all of their content in that regard is old. They're improving in regards to movies however, beginning to get new releases (ex. The Avengers).
They won't get HBO shows first until they reach Foxtel like bargaining power. Foxtel has paid to show Game of Thrones, as well as several other high grossing shows, first.
That's not to say they can't. Netflix is at a point now where it is not only buying TV shows to exclude competitors (see above post on the new Ricky Gervais show going straight to Netflix) but they are also producing their own content in an attempt to differentiate.
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