I'm not convinced by that argument.

It's possible that for a technically-skilled user with everything set up correctly, that could be the case - but you're exaggerating the scale of the difference for most users.

Let's say you're already a Netflix subscriber, for example; you want to watch a movie. It's offered by Netflix. You open the app, select the movie and it starts playing. You want to watch it on your TV? You use your Apple TV/Chromecast and it magically works. There's no waiting for a download, no need to worry about the format or resolution, and no concerns about the legality of it.

The same applies to e.g. Amazon Prime, or iTunes, or whatever cable service you have available. It will probably work, probably won't be a pain in the arse to setup, and won't get you into any trouble with your internet provider.

"Far more convenient" is simply overstating it.