This makes no sense to me. Isn't it a lose-lose for everyone? Netflix themselves lose subscribers who can no longer view the content they want. The studios lose as now people will be torrenting their films and shows. Yes, geo-unblocking might not be what they want, but at least they are still getting revenue from Netflix and viewers are still paying for content.
I've been using IronSocket to unblock Netflix and Hulu... I'm having a great time with them, though. Really nice.