For now we’re still better than cable because you don’t need to stay subscribed to everything just because you want to watch something. Especially in this modern age of “dump a whole season at once and then spend 2 years making the next season”. You can subscribe to something for a month to watch the latest season and then drop the subscription.
That is worse than cable if you had something like TiVo. Back with a cable subscription you were "locked in" but it was cheaper than buying all the subscriptions. We have taken a massive step backwards in UI/UX when it comes to TV, piracy is the only thing that beats TiVO but TiVo (old TiVo, before Cable Card was killed) beats pretty much everything else today.