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.
Yeah its also interesting seeing the niche apps that pop up that basically pick what to watch for you and where everyone watches the same thing at the same time. Seems like converging on old school television.