There is a quality issue in what CDN server your content is streaming off and if your provider engages in traffic shaping tactics. The only issue with broadcast quality is when a station or cable co. tries to cram too many channels down by reducing bitrate and/or resolution, which in the analog days they couldn't do to the same extent.

The problem is less and less people have disposable incomes due to population grow and hoarding of personal wealth. Besides that broadcast TV is still the best method of distribution to the widest audience due to no DRM or pay walls. And FYI, broadcast content is targeted to key demographics based on small, manipulated sample group which has needed an overhaul since the founding of the Nielsen Corporation. Replacing this ratings system with directly metered content plays is the only thing that gives internet content an advantage.

Pay TV providers wanting customers to only use their provided devices to "protect" content, shocking :)

If broadcast TV were to die to internet TV, we would be left with content for the ones that can afford it and nothing for the ones who can't. Whether it's money sucking subscription or budget paid advertising internet video, both will use some sort of restrictive, closed source key management system that's only available to a select group of devices. At least broadcast TV doesn't do DRM!!! If people don't like broadcast shows being cancelled then they should do something to fix the monopoly ratings system.