Netflix password sharing situation - how's everyone handling it with kids?

So Netflix cracked down on password sharing and now I'm wondering what everyone else did. Do you have a separate account for your kids? Main account + kids profile? We ended up just making a family account and letting them have their own profile with restrictions turned on. Costs $22/month which feels like a lot but at least they can't access R-rated stuff. Curious if others did something similar or if I'm overthinking this