Are class action lawsuits really that beneficial?

Currently, Netflix’s latest lawsuit involves 2 lead plaintiffs. The only people getting paid in this class action lawsuit are the plaintiffs and the lawyers. The other members of the suit are getting zilch. I myself received a notice in my inbox about this lawsuit and I just shrugged it off, chalking it up as just another money grab.
Usually, members of a class action lawsuit get paid next to nothing, if even that. So why make it into a class action lawsuit, get peoples’ hopes up about getting paid big money, and then having their hopes dashed by them receiving a check in the mail for 50 cents? Shouldn’t these plaintiffs have just sued Netflix on their own without making it into a huge thing?
Basically, the only people who benefit from these class action lawsuits are the ones who initiated it and the lawyers. Do class action lawsuits mean more money for the plaintiffs than a normal lawsuit involving a big company?

What are your thoughts on the subject?