Netflix Instant is coming to the entire Linux Community 15 years ago
From an engineering point of view, Netflix Instant already works on Linux as it is available on Android. So, the issue is not a technical one.
Moonlight (Mono Silverlight) has all the technical chops as well. The lack of DRM is what prevents that from being a solution. Also, I will note that Moonlight lacks a fair bit of polish.
So, the issue here is clearly the business strategy and not the technical know-how. The 12 month estimate is meaningless. If the Netflix CEO wanted a Linux client it would be available very quickly.
I have no doubt they are playing around with the DRM, or creating proof-of-concept builds using the various options, but it is not like we are waiting around for some small technology team to deliver it as a product.