Anybody in this crowd try this out yet? Sounds pretty cool. Would be awesome to tie it into a home DVR like a Homerun or Recast.
As others have mentioned, they appear to be using some kind of geolocation to ensure that viewers are only viewing content specific to their particular location. While the service is nominally free, commercials soliciting monthly and one-time donations to maintain the service are inserted frequently.
Do these offset content or ads? If it's ads, it seems like it's definitely infringing and not likely to last. Even if it's content it probably still is.