How can I change the bitrate when I watch a video with Netflix on a PS3?

Solution 1:

Regardless of whether you're streaming to the Netflix application on the Wii, the PS3, or the Xbox 360, the answer's the same: the Netflix application contains no such controls for this platform—or at least, no readily available controls.

Enterprising users may be able to unlock the ability through software modification by making use of a hacked console; however, these methods have a variety of associated dangers such that I have never bothered to investigate them.

Solution 2:

There is a way to abstractly manage your streaming video quality on Netflix through the website. After logging in click on Your Account & Help in the top right corner. Follow this up by clicking on Manage Video Quality on the right side about half way down the page.
Finally, select the video quality you'd like to use and click on Save.