Which retail strategy decision is widely considered to have accelerated Blockbuster's demise when competing with Netflix in the early 2000s?

Before streaming dominated entertainment, Blockbuster Video was the gateway to film and television for millions of people worldwide. At its peak, the video rental chain had over 9,000 stores globally and was worth billions. This trivia question explores the retail history and strategy behind one of entertainment's most dramatic business collapses, showing how rapidly distribution technology and consumer preferences can transform an entire industry.

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Refusing to eliminate late fees, which drove customers to Netflix's no-late-fee model
Opening too many international locations too quickly, spreading their resources too thin
Focusing exclusively on DVD rentals while abandoning VHS rentals too early
Investing too heavily in their own streaming platform development, which bankrupted them