A platform like Facebook, which serves up user-generated content as well as publishing tools for media sites, tends to favor exploitation, because a user can continuously interact with the same or similar posts ad infinitum via comments, shares, and so on. Because Netflix unilaterally controls the content on its platform, however, they're incentivized to include more exploration than Facebook; you can't post your own thoughts to Netflix, and watching the same or similar movies and shows over and over is likely to drive you away from the platform, not keep you on it.
Of course, the fundamental issues with algorithms apply to all tech companies. Clarke's third law, that sufficiently advanced technology appears as magic, gives widely used platforms the appearance of omniscience -- Facebook "knows" what your political beliefs are, Netflix "knows" what you're likely to watch next. And what defense does any mere mortal have against a godlike force? Less dramatically, what defense does a mere mortal have against a photo of Mr. Bean used to promote Love, Actually?