It's more than just views. It's rewatches, binge watches, complete vs interrupted episode watches, probably even time skips.
Likely also where the view comes from, like a specific search vs general recommendations vs targeted recommendations
If you think about it, Netflix doesn't get paid by the view, they get paid by the subscription. So the ideal Netflix show is one which is desirable enough to draw in and retain subscribers while being cheap to produce. Whether or not people actually watch the show is irrelevant to them. If it gets people in the door it's a winner.