When a significant number of people cut their (ad supported) cable and subscribe to Netflix (no ads), then ad supported programming is decreased. All the stuff about the channels pandering to their audience may be true, but it's irrelevant. Note that, despite the existence of Hulu (apparently, I'm in Canada) Netflix continues to expand. There is a growing market for ad-free television.
The super bowl is a special event that happens for a few hours every year. Yes, ads for the super bowl cost a lot. But they also cost a lot last year. We don't know how well an ad-free Super Bowl would do, because it simply aren't offered that way. The super bowl is also a bit of a special case because the ads cost so much that advertisers put more effort into making them entertaining. How well would an ad-free Netflix-like sports service do against regular ad supported sports?