First: Netflix will cancel your contract, which is not a real issue in itself.
Second: You will have to pay for the damage you did by sharing your account and could get sued. But there is yet no case known where people actually got sued. So, it's more likely that nothing will happen in this case.
I personally don't recommend it for whatever reason, but it's your life...
Well, in 2017, I shared my Netflix with my then-girlfriend (now wife) despite being on different continents (I'm from Luxembourg in Europe, she's from the Philippines) so we could have movie evenings together. Never did something bad happen after that. she even made her own login - and since she's based in the Philippines, even has a different lineup in shows and movies then I do.
However, I wouldn't share my Netflix out of spite, it was just a loophole which allowed us to watch movies together, and wouldn't have done it under other circumstances.
The Nintendo eShop rating Thread: http://gamrconnect.vgchartz.com/thread.php?id=237454