>It is, objectively, pretty easy and convenient to watch what you want, when you want
Sure, between Netflix, HBO, Disney, Paramount, etc, etc, etc... all with their own "exclusives".
So to watch what you want, when you want, you would need to pay multiple monthly fees and deal with the aforementioned mental overhead of multiple subscriptions to manage.
At least in the old video store days, one only had to go to a single video store.
Now they're even differentiating by the quality of the stream. That's more consumer-hostile arbitrary garbage that the video store never had. Who in their right mind would pay for blurry SD streaming nowadays, when even phones are 4k? But of course there's no single HD stream plan available.
Piracy is unfortunately relatively easier and more convenient, and that's a failure of the entertainment industry. Not to mention the terrible quality of the average show... and the fact that shows that you've "purchased" go missing from streaming sites randomly... and now they're putting ads in there. The downward spiral is now.