This is a fair argument, but Netfix is still much closer to an ideal than cable is. The amount of content you can get out of Netflix is still far greater than you'd get out of any one channel. Netflix is very easy to start and stop paying for. If you run out of content you want to see just keep doing what you're currently doing. Stop paying and start again when something you do want to see shows up.
We don't want "channels" any more. We don't want to watch some program on your schedule. We want to stream specific things when we want to stream them. This is why netflix is cleaning house - it's on demand and doesn't force anyone to conform to their schedule.
Cord cutting is a revolt against three things - unreasonable cost, fixed schedules, and commercials.
Too bad both markets are equally worthless. Designing a profitable mobile app these days is like winning the lottery, and even assuming you do some Chinese asshole reverse engineers it and steals all your work.