The big difference is that it is very, very easy to sign up for a particular streaming service for a short time to watch the shows or movies you want on that service, and then cancel it. And then do the same thing for a different streaming service that has other shows you like. So I'll sign up for Disney+ for a couple months while there are new episodes of the Mandalorian, and then cancel it until next year. And then sign up for Netflix to binge the latest season of The Flash, and then cancel it, and so on. Maybe at times I'll have two services going at once, so $20 for that month. Still way less than cable.
In the days of cable, you couldn't customize which channels you wanted (besides adding premium channels all together a more expensive bundle), and trying to cancel anything was like pulling the teeth of a grizzly bear as you could only cancel by phone and not online, and they would use pushy sales tactics and "deals" to keep you signed up... plus the hassle of having to send back the equipment if you didn't want to keep getting charged for it.
Kor