While Netflix (NASDAQ:NFLX) investors were celebrating after the company's latest earnings report, Wall Street's accounting mavens came out of the woodwork to bash the streaming video pioneer, crying foul at the company's plans to finish 2018 with $3 to $4 billion in negative free cash flow.

Netflix argued that it was growing so quickly that it made sense to fuel its growth with increased investments in content. Even so, the bears were skeptical, claiming that it was foolish to take out more debt while the company was burning billions in cash each year.

But the company's strategy is far from unique in the streaming industry. In fact, when compared to rivals like Hulu and Amazon (NASDAQ:AMZN), Netflix's approach looks downright conservative.