Dreamworks had off doing movies from time to time before Netflix. I do agree that's part of the equation, but so isn't the fact their recent string of films either suffered poor timing or concepts that were too off the wall for a mainstream audience.
Think about it. You had the one where children's hoilday characters were bad@## heroes based on a series of books no one read or was aware of, a snail that wanted to race in Nascar, and a 60 year old cartoon series that those who remembered it would refuse to see it because they changed it or aren't old enough to know who they were. I mean, none of the Jay Ward movies were successful. Peabody and Sherman did Avengers money compared to Dudley Do-Right. Penguins, however, was all on them. They knew that Home would flop if they put it up against Big Hero 6 and Hunger Games, so they just essentially dumped POM in the slot to say "we've released 3 things a year!" HTTYD2 was poor timing, sure. Who would have thought an adult's comedy sequel would have crushed a kid's cartoon movie franchise...except the same exact freaking thing happened with KFP2 and Hangover 2. But POM's "failure" (it made over budget) was all on them. On the plus side, BH6 is one of Disney's most successful animated films, so at least both didn't crash and burn as direct competition. Hollywood needs to stop acting like Thanksgiving is this big money making weekend. It isn't.
Personally, I think Dreamworks wants the excuse to say "our movies are doing poorly" to close down American animation studios and just do everything cheaper overseas.