Even video can be done in some manner at 1 Mbps, except some live streaming that doesn't offer a low enough quality.
But well, not owning any TV is a lot more common nowadays, now that analog broadcast was switched off (In France, they've doubled down by ceasing digital SD broadcast, so the dingy little tuner boxes and second remote have returned)
Also, 1 Mbps doesn't really exist except for some rural lines (nothing really wrong with e.g. Seattle's DSL, it's just that 65 year-old-phone lines are rare outside the US) ; if you've got 1 Mbps it's likely because you're mooching from some wifi hotspot that will have availability problems. Congestion may mean pings less than 100ms are only achievable at 3 AM. For UK in particular, I guess rain and mist ruin it pretty often.
1 Mbps up/down with 100% availability and low ping and zero jitter would be pretty nice actually, although still not usable for everything.