Three months. That’s how long AppleTV+ has been around. Sure Apple’s new to the game. Disney’s been developing content for 80+ years, and Netflix is an OG streamer, 12+ years.
But competition is exactly the right word. Whether you like it or not isn’t really relevant. Just like Apple was a competitor to Nokia and Blackberry upon the iPhone’s release.
You can be sure that Netflix and Disney absolutely consider Apple a competitor. They know better than to ignore a player in their space with the resources and track record of success of Apple.
Five years from now, when Apple’s got 300-500 movies, shows, documentaries and series—some with three or four seasons behind them—Apple’s catalog won’t be nearly as sparse. Ten years from now, Apple will have thousands of hours of content, and a number of breakout hits.
As mentioned by others, Apple is playing the long game. If they want to supplement their catalog with existing content that’s always an option. They’ve got hundreds of billions of dollars in cash and the ability to issue maybe another half trillion in stock with which to do it.