The first party Microsoft games (Halo, Gears of War, Forza, most of the Bethesda games like Fallout, Skyrim etc.) are there to stay and don’t cycle out. Other third party games are announced and remain on the service for at least a few months or longer. And these games span from indies to AAA blockbusters like Assassins Creed, Red Dead Redemption 2, etc.

When they cycle out they will announce it under a “leaving soon” message and you will lose access just like Netflix in your example. The silver lining is that usually when one of those games is slated to be removed, they offer a discount (I think 20% or so) for Gamepass subscribers to purchase the game.