I agree. I wrote this on Reddit a few minutes ago:
I know all the hubbub around Roku but they're now trading at a P/S of ~3, the lowest it has ever been. Their advertising segment has obviously slowed but it's still grown 46% on a TTM basis against peak COVID comps. Their active accounts and streaming hours are each up only 17% YoY but ARPU is up 36% so management does seem good as monetizing users. I'm not saying I'm buying but I'm definitely keeping an eye on it.
Edit: 15% and 19% respectively on active accounts and streaming hours and 21% on ARPU. Had a formula error.
What particularly do you think was not as bad as people said it was?