The 33-year-old says he was told the show would be a positive and empowering documentary-style show, but after seeing the press release last month, he was left disappointed.
Speaking with The Daily Telegraph, Billy said, "The way that it was pitched to me was that it was really going to zone in on interesting people in Byron Bay and creatives and even creative influencers."
Instead, the streaming giant described the show in the release as, "A docu-soap series following a ‘feed’ of hot Instagrammers living their best lives, being their best selves, creating the best drama content."
They added, "This is our love letter to Byron Bay. It's not just Chris [Hemsworth] and Zac [Efron]’s backyard, it's the playground of more celebrity-adjacent-adjacent influencers than you can poke a selfie-stick at.
"But PLOT TWIST: don’t write these Baes off too quickly. There’ll be fights, flings and heartbreak; but beneath every perfect post is a very real desire not just for ‘likes’ but to be liked, dammit, for who you are (so relatable). Can the Baes survive summer without a collab going wrong? Byron’s the kind of paradise that makes it all feel possible."
Since then, Billy said he felt "disappointed and upset with the way the situation was dealt with".
"I felt a bit lied to and so when they called me back to see if I still wanted to be on the show after the press release, I was just done," he told the publication.
"They were talking about 'hot Instagrammers', fights, drama and flings, I thought 'this is not me at all'."
The rocker added he didn't want his reputation ruined over a show that would pay him just "$200 a day".
Taking to Instagram last week, Billy wrote, "I’m not anti-Netflix, and I’m not anti-influencer, I just don’t believe that your show is a true representation of the soul of Byron.
"This program doesn’t align with my values - and the local Indigenous Elders and long-standing community do not give their blessing for you to host this series.
"Yep, I feel embarrassed to have been associated with this show."
He continued, saying he, like many of his friends, was contacted to be on the show, with a Netflix rep saying they loved how he "talked about men's mental health and vulnerability", adding that they also said they loved his music.
"I began to understand later the true nature of the program, and it became clear to me that I didn’t align with the ethos of the show," he said. "I don’t consider myself a Byron local, I don’t consider myself a 'hot Instagrammer', and I don’t believe that the world needs a show like this right now."
Billy added that he'd love to see a Netflix series based on "the real stories of Byron, working alongside Bundjalung Elders and capturing the dreamers, creatives and custodians that help make this place special".
Billy's statement comes after the rumoured Bryon Baes cast list was released last week. He had been named alongside former Bachelorette star Nathan Favro and Love Island star Elias Chigros.
Other stars included co-creative director of local boutique Hannah Brauer, couple Dave From and Saskia Wotton, influencer Jade Kevin Foster and more.
Ben Gordon, co-owner of The Byron Bay General Store, has been urging business owners in the area not to allow the show to shoot in their venues.
"They've simply turned up unannounced and they are proposing to drag our name through the mud, and make millions of dollars without offering anything back to the community," he told Karl Stefanovic and Allison Langdon during an appearance on the Today Show.
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