I thought about it some more, and think you need encryption to authenticate the broadcaster to the viewer. For example, without encryption I can drive by the old folks home and broadcast my video of "the world is ending, kill yourself before it's too late" and do a lot of mental damage to people. With encryption, this attack is blocked; I don't have ABC news' key, so I can't pretend to be them.
All in all, I'm not sure what the right public policy decision is here. I guess analog TV worked pretty well. Broadcast intrusions are fun to read about anyway: https://en.wikipedia.org/wiki/Max_Headroom_signal_hijacking