I agree. I tend to watch most of my TV online nowadays anyway. But if there was a way to subscribe to specific channels -- or better yet, specific shows (either online or through cable/satellite), then I think you'd find that you'd get a much better revenue stream. At the very least, you'd be able to cut out all the guesswork of who DVRs a show vs. who watches online vs. who watches a realtime broadcast.
Oh, and don't forget the DVD sales for a full season.