If you look at the parties that get affected by VPN bypassing geoblock:
1. Netflix: they don't care, they already get your payment from subscriptions
2. The content owner: they don't truly care, sort of. They license the content to Netflix and already get the payment from Netflix. However, they does not license to Netflix to serve Malaysia region and therefore getting less payment from Netflix, instead, they want to license such content to Malaysia content provider such as Astro to earn additional money. If Astro already license that and pay the content owner, then the content owner don't really care how the users get their content from, VPN or Astro, because to them the earnings are already the same. And if Astro does not license that content, then there is no way for the content owner to make additional money even if the user VPN and stream a region block content. Or rather, they may still make some money, by either selling bluray or DVD disc, which has already gone bankrupt in Malaysia, or persuade Astro to license the content and hence getting extra money from it. But it is a bit of a long shot so it is likely that they know it won't truly make much differences. Nowadays the content owner focus is more on launching their own streaming service, and then cut off Netflix and get the user to subscribe directly from them.
3. Astro: they care. because they already pay for the content and it is supposed to be their selling point to persuade more people to sign up for Astro and buy premium package from them. But does /k care about Astro?

Also, if the titles are already very old and Astro does not pay for the content, then they don't care also.
Compare to this to someone simply pirates instead of paying VPN to bypass region block:
1. Netflix gets nothing
2. Content owner gets nothing
3. Astro gets nothing
It is quite obvious all the stakeholders care more about someone pirating than bypassing region block.
netflix actually blocked me after watching 3 episodes of the office thru japan. it notified me something about using proxy.