The streaming giant recently announced James Cameron's 3-hour epic is hitting their service starting July 1. Of course, it's not entirely clear if "Titanic" was already scheduled to be part of their new offerings ... or if this is in response to OceanGate.

If you look online ... people definitely have their opinions, and many believe Netflix added this as a last-minute play to capitalize on all the interest in the story -- and there's a lot.

Indeed ... many are accusing Netflix of doing this way too soon. Despite all the jokes and mockery that's been aimed at the victims of the submersible, it would seem there's still a fair amount of people who feel like their memory should be honored -- at least for now.

BTW, "Titanic" isn't the only deep-sea project they're airing in July -- there's a new doc they're also promoting called "The Deepest Breath" ... and that too is getting a double take.

Now, while many suspect Netflix did this as a way to jump on the submarine saga ... some reports have suggested the licensing deal for "Titanic" was already set -- and that it was actually known it would be part of their July slate even before the sub went missing.

If that is, indeed, true ... another question being posed -- would it be appropriate to yank 'Titanic' for sensitivity purposes??? Something tells us Netflix isn't primed to do that.

As you know -- 5 people onboard the Titan submersible died after authorities said the vessel imploded underwater ... and much sooner than everyone initially thought. There's been a lot of scrutiny about the safety concerns in the lead-up to this ill-fated dive.

The irony of "Titanic" resurfacing for at-home viewing is the fact that its director has been so outspoken about the Titan's voyage ... sounding off and suggesting hubris was afoot.