Most of the channels were educational or news or other special interest, not sitcom, drama, etc.

I think the issue is just cost -- high-end TV is $250k-3mm/hr . Low-quality TV costs something like $30k/hr of finished product. High-end web is $1-4k/hr. Amateur is $100-400.

You can produce much more niche content if you need only $1k/hr to produce it. Niche reduces the cost per hour for the same quality, too -- I'd rather see dmor or sama or garry talking about startups for 15 minutes vs. Morgan Freeman. Non-talent costs really can be dramatically reduced in a non-union world, especially one where the principals are compensated through equity or other non-cash, for the same final quality. And, if something is niche, I'll watch it even if the editing, sound, video, etc. aren't quite up to the same level.