Often, the idea of going to a movie theater is based on being the first to see a certain movie as well as being able to leave the house and take a special person out: things that a subscriber-based service like Netflix doesn't focus on at the moment. While Netflix and similar models are here to stay, they may never entirely replace the audience who still prefer movie theater outings.
The traditional movie theater model is not in danger of being replaced by the Netflix subscriber model. Big-screen theaters offer a movie viewing experience that cannot be replicated at home. TV cable system and movies on demand viewership is much more at risk from movie streaming services such as Netflix.
I think Netflix is great, and I subscribe to it monthly. With that said people often wonder if it will take over the traditional movie theater viewing model and I say no to that. I will admit more movies are going straight to DVD and other medias today and all out skipping the movie theater. However this is because movies don't do as good as they use to in theaters, unless they are blockbusters. So really now we are getting more movies, but movies at different levels. Netflix has it's place and that's at home and on mobile devices. The movie theater will remain because of al the wonderful movies that are being released.
Watching a movie at home and at the theater are two different experiences. Unless we all have large screens in our homes, which we don't and it's unlikely that we will, theaters will continue to thrive. There are still films that I want to watch on a big screen with a larger audience. It's not the same experience at home.