“netflix low” but raw is currently ranked #4 on the entire platform 2 days after it aired![]()

Let's use the US for example since that's where we located. Top ten is based on views. Netflix is a binge watching platform and lot of weeks they aren't releasing a large amount of worthy shows. The Night Agent, Zero Day, and The Recruit all did well, even Cobra Kai was decent. But not every big show premieres at same time so it's not difficult to be in top ten for Raw each week.
Other than live sports and maybe news on some days, pro wrestling often in the top 5 each night. People either watching the game or a wrestling show mostly. So yes ratings can go down but being #4 means that everything under it isn't getting as much viewers. A show can be fourth and if it has a million viewers more than fifth and loses 500k, then it's still in fourth.