There are regional limitations.
You might still have a Netflix subscription but what you can access will change when you move from country to country.
You can't share with your family outside of the region because of regional limitations.
Here is the legal stuff:.
CONTENT AND SERVICE AVAILABILITY
Terms found in this Agreement that relate to Services, Content types, features or functionality not available in your Home Country are not applicable to you unless and until they become available to you. To see the Content types available to you in your Home Country, go to the Services or visit https://support.apple.com/HT204411. Certain Services and Content available to you in your Home Country may not be available to you when traveling outside of your Home Country.
https://www.apple.com/legal/internet-services/itunes/us/terms.html
Your understanding or disbelief is irrelevant.