Yeah, probably. But I think most people looking for some light entertainment will look for 'a movie', not 'this particular Lionsgate movie', and in any case, with Netflix being so wildly popular, and average Steam users probably being fairly well-versed in today's online entertainment options, I just can't believe that this is very significant at all.
That's my experience. Since dropping cable and going to 100% Netflix, my watching is very much "what's on Netflix this month?" And with full seasons of TV shows posted at once, I can binge watch one of those if I don't see an interesting movie.