It is different though because theft removes the original item, while piracy is sharing a copy of it.
I don't agree. For many people, it's the only way to access TV. Wide access to broadcast media is a basic right, not a luxury. Some would say (me, for example) that it's neccesary for the proper functioning of civic society.
Meanwhile I note that free-to-air TV has been in decline for over a decade, at least in the UK. Cable and satellite services have been stealing the broadcasters' lunch. BBC News has an ever-shrinking circle of reporters (which they nowadays refer to as "editors").
I have no use for a streaming "package"; I don't watch sports and athletics, vintage sitcoms or new-release movies. I have a Sky dish and DVR, with the basic package. I gather Sky want to move me over to streaming, which would mean I'd have to upgrade my internet service.
If anything I'm half-expecting the UK to start taxing individual creators who livestream on Twitch or YouTube (or perhaps to tax the platforms, or require the viewers to have a TV licence). That would indeed be egregious.
Which seems like a very strong claim.
The evidence says that piracy actually increases the value of the original as pirates spend more money on the media than they would without the piracy option