We have Spectrum's stream-only service (using the Apple TV). Overall, it's been decent for local channels and a few "premium" channels -- at least for the price we pay (all local channels, 10 premium channels and HBO/Showtime for $15/month).

I agree that the format is stale, but for some, it's a good form of "background noise"; my wife loves to have the TV on even if she isn't watching it, while reading, studying, etc.

There's also no other real choice if you want live content (primarily for sports). You still need access to your local affiliate channels to watch this content, and for some, an antenna is not good enough or even an option at all.