Snarkiness aside, think about what the "value" is/was that cable brought to the transaction. The value of cable was that you could get channels (and thus content) that you could not get from 'over the air' stations. Early cable adopters people with poor or non-existent over the air reception. Then cable added the equivalent of UHF channels (sorry if that is a US centric thing but all of the channels on that band in the US were a bit 'off'). Then came the 'movie' channels which you could
only get on cable and the reason people paid for cable was that other content which they had no other way to get.
Internet service was never a threat until bandwidth got to the point where you could watch video on it with the same fidelity as bad TV, then suddenly other ways to get alternate content were available. Netflix dropped into that change just as affordable 1 - 3 mbit bandwidth was hitting (the whole ADSL revolution in the 90's) and since the bandwidth race that has just gotten worse.
So cable, which you paid for, was the only way to get this "other" content, which carried free over-the-air content with its concommitant advertising as a 'favor' to its subscribers so they didn't need an antenna (and they did get better reception, but not HD, but that is a different thread). Now folks are dumping cable for things like Netflix and Hulu because they can get content "ala carte" and Netfix on demand is better than all of the 'budget' movie channels on cable (think Encore, Starz, or Cinemax) and now they go back to over the air reception (now digital) of the free content. Comcast is disintermediated because they don't bring anything to the party (except, to their pain, fast internet access).
That is the sea change that is going on here. Fat pipe providers as a commodity, and a bunch of different services being content providers on demand.