You’re right, but it’s annoying for sure. Instead of telling me they don’t have a title, they complete its full name (as if to say „I know what you want, but I’m not gonna give it to ya“), yet show me some arbitrary stuff named similar.
Usually, the search results are movies with similar genre to the one I was looking for, not just simply similar spelling etc. I assume they look up stuff like what other movies people who had seen the searched-for movie have seen. So if I was looking for Movie A and Netflix knows that people who've seen Movie A tend to like Movie B, C, D, etc (and these are available in your part of the world) it'll show these movies instead. I think this is nicer and better than just failing with zero results.
It’s just a poor solution.