What I think should happen, is that if viewers still are willing to accept the idea of timeslots like television broadcasts have, that once the content goes up for broadcast, then that content remains accessible from that point forth, with the ability for the content provider to change-out the ads between acts. There's no reason to have to wait for another broadcast window or to have to delay allowing on-demand viewing of the content after its original release.
If anything, this kind of system for "reruns" would be more fair to everyone involved. Advertisers would be billed per-ad, as the number of times their ads are shown could be more accurately determined. Content providers could actually see how often a show is being watched when it's relatively new, and the audience could actually go back and watch content that they might have missed before attempting to continue watching a series.
I stopped watching Person of Interest after it was pre-empted for a sports broadcast; they pre-empted the second of a two-parter. Apparently it was the local affiliate that decided to do it, but I've never gone back. Other shows, like Firefly could have benefitted by being watchable even if the network wants to show other content; all of the basketball games on FOX that season hurt finding an audience, resulting in cancellation. I've missed some Agents of Shield and am about ready to give up on that show, based on ABC's bloody stupid decision to not let one watch the previous week's episode until after this week's episode has already aired, so one cannot catch-up before the next broadcast! STUPID!
The business model can change and still be workable for the existing parties, if they're just brave enough to do it.