I don't watch a lot of TV, but personally when I do I do it because it's a way to either: 1. escape 2. become informed
I can't imagine turning this on while I have breakfast, or "for fun" on a bus commute. I see the appeal in sharing snippets of my live in video format with people that may care about the banal day-to-day things (I think this is why I like Path so much - those closest to me may actually be interested in where I went for lunch today), but I don't understand the "hours" of "brilliant entertainment" that some people seem to get out of this.
I think many people watch TV because they need to unplug from their "normal" existence. Or because they seek to see something interesting, funny, or learn something new. I watch The Daily Show because it's funny, I watch BBC because it informs me, I watch Bloomberg because I learn something new. I don't see these need being replaced by vine.
Maybe I don't get it.