Good TV shows don't need big budgets. A show like House of Cards does without special effects or CGI, whilst still being a highly popular show.
Another factor is that Netflix is a multinational; if a (cheap?) show doesn't work in one country, it might work very well in another one. (see the Warcraft movie as a movie example; did okayish in the west, was a huge hit in China).
Another factor is that Netflix is a multinational; if a (cheap?) show doesn't work in one country, it might work very well in another one. (see the Warcraft movie as a movie example; did okayish in the west, was a huge hit in China).