The term is generally reserved for, especially in legal cases, goods that are required to maintain a minimum quality of life but are in finite supply. If you were to suddenly increase the price of food, water, or communication technology during a widespread emergency, you would be committing a very clear case of Price Gouging and in most places found in violation of the law.
However, Disney+ Streaming service is the epitome of a good that is NOT necessary to live. It’s a minor luxury with no positive impact on the consumer.