Just because it's cheap doesn't mean there aren't cheaper alternatives. Most people could easily replace that with a netflix subscription for $13, since they already have an internet connection.
Let's assume we devote 70% of the 1TB cap to streaming (netflix, youtube, etc.). This leaves 300GB for anything else, which be more than enough. Using netfilx's highest bitrate for 1080p, we get 268 hours of content for 700 GB. At the highest bitrate for 720p, we get 518 hours of content. Dividing that by 30 days, we get 8.9 and 17.3 hours per day for 1080p and 720p respectively. 8.9 hours split among two screens (one for kids and one for adults) might be tight if they don't have anything else to do, but 17.3 hours sounds more than enough if the kids are in school and the adults are employed full-time.
I download and seed hundreds of GB's a month of torrents and run a couple cryptocurrency nodes in a household of 4 where everyone uses youtube, netflix, and spotify often and we've broken 1TB once in a decade..
What I'm saying is YMMV. I bet you'd see different results if one or two of your housemates turned on 4K on youtube/netflix.
It isn't like television/video is some kind of necessity for life.
Going to the library takes a whole hell of a lot more time and work than turning on your TV.