The new approval, which places the S1H alongside cameras like the VariCam 35, Pure, and LT, means that it is now the most affordable camera that can be used for such production.
It goes without saying that if you are lucky enough to have a commission to be making a Netflix Original series that camera affordability will not be high on your list of needs. But with that said, the small form factor of the S1H comparatively with all other cameras on the approved list means that it is possible to use it in situations where other types cannot. And you won't have to be concerned about using it for extended shoots.
There are some capture limitations
The approval is based upon adhering to a strict group of settings. The most obvious being that the camera must be in either full-frame, S35, or Pixel/Pixel modes. No other crop is allowed. Furthermore you must use the 4:2:2 10-bit ALL-I capture with V-Log, which will, if recording internally, limit you to a max of 30fps. But the camera can be used to capture 4K 60p via an external recorder if higher speed shooting is required.
Other S1H setting recomendations
There are other settings which are recommendations rather than hard and fast rules, such as diffraction compensation and vignetting compensation, that Netflix advises should be switched off. This will be lens dependent as the 24-105mm f/4 is designed with these compensation settings in mind.
Additionally Netflix gives exposure recommendations for V-Log as well, with 0% black, 18% grey, and 90% white IRE ratings.
Aside from the fact that this will give something for current S1H owners to brag about to their colleagues, it is yet another indication, as if we need one, of how good cameras have become at all levels of price range.