Of course you should cancel. If you have to ask, it means it's not worth it. I canceled after the first price hike couple years back and haven't looked back. I didn't even use the free 3 months I got for buying Chromecast.
Still blows my mind how much bitching went on about that. I could understand the complaints over splitting the disc and streaming and the rebranding stupidity they pulled, but the price went up a tiny bit and fact is content costs were going up (a lot of content companies started trying to stick it to Netflix by jacking up prices, much like how you've seen with the public fights between Dish, DirectTV, cable with certain content companies). It's the same reason why the big ISPs pulled the shit they did. They knew Netflix had made such an efficient setup that it cost them very little, and they knew how little Netflix cost made them popular which then cost them cable/TV subscribers, so they tried to throw a big wrench into it. So again, Netflix will have to pass on some limited increases (the recent one where current subscribers get to stay at $8 for a while).
I remember people going apeshit over the Netflix price change, who were paying $150 a month for digital cable (that was increasing more than Netflix at a more frequent rate too), and spent more time watching Netflix. It was a major WTF for me.
Oh and now you can share a single account for streaming (at the same time, I believe it's 2 concurrent at the standard plan), so it's actually less expensive for a lot of people (unless Netflix didn't used to limit it at all and several were sharing, but I don't think they used to let more than one stream from an account at the same time like they do now).
Oh, not saying you're wrong as hey if you don't miss it at all then it isn't worth it to ya, but I am curious, what content are you viewing and how are you getting it? Do you just watch new stuff, and so have TV or maybe Hulu, and go to the movies? Not watch much in general so even when cheap you weren't really getting your money's worth?