I just bought a Netflix plan and am using it in France (through a plugin). I don't know if it's illegal but it is really really good. I actually really hope this is going to keep working and that Netflix is not going to fix this.
If I had the people and the skill I would try to launch such a startup in France. I have no idea why there is no equivalent, it's a promised success.
I think it would be really hard to start something like Netflix as a startup in Europe. The content licensing structure is quite a mess (which is probably one of the reasons why Netflix isn't available yet (with some exceptions in Scandinavia)).
If I had the people and the skill I would try to launch such a startup in France. I have no idea why there is no equivalent, it's a promised success.