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Yeah, the $40/month offering is supposed to be comparable to a Cable TV bill.

There's also the $12/month YouTube Premium (separate product, and you can subscribe to both at the same time) which combines music and original content.

DirecTV Now is the nuts in this space. Their lowest tier $35 offering has everything I could ever need or watch, plus HBO for $5 month extra. Their apps have come a long way, and you can watch from anywhere. They've also been adding a ton of local networks, so most markets have all the locals. They also just rolled out Cloud DVR (20 hrs). And they support almost every TV Everywhere network app that you subscribe too with your DirecTV Now creds, including HBO Go. I have no affiliation, it's just been a great value for us, and really no complaints.

The channel selection is comparable to current cable. I would consider if when it's available in my area: https://tv.youtube.com/welcome/

I pay $40/mo for Hulu Live TV alone.