It sounds like HBO is ditching Netflix to do their own streaming. Bummer. While I wish Netflix had a larger selection, the bigger appeal to me is how many platforms they support. I can watch it from Windows, my Boxee Box, my Wii, my iPhone or my Kindle Fire (Linux support is sourly missing, though). If HBO strikes out on their own, there is no way they are going to have that kind of breadth.
What I really want is a streaming service that lets me choose what sources I subscribe to in an a la cart manner. If Netflix wants to survive losing these content providers I think that's the direction they should go in: become a platform. And if they don't, it's a great idea for a startup.