At the core, it's about competition for eyeballs and time spent watching 'something'. With the explosion of user generated content, there is a tremendous amount of very interesting, and highly targeted, niche content competing for the time and attention of people. So, right now, that attention 'drain' is taking place on another screen, via another input source (tcp/ip). I see an explosion of super niche, live, recorded, and peer rated content being delivered over another 'pipe' and competing for the rather 'programmed' content provided by my traditional cable provider.
So, right now, I suspect that many teens and 20 somethings spent a good deal of team on facebook, youtube, world of warcraft, and other variations on either peer created content, or browsing content that is being delivered over a medium other than their TV. With the explosion of content (youtube, redtube, ustream, facebook), the broadening of the tcp/ip pipes, and the 'social' aspect of peer rated content, it's difficult for me to see the long term value of my cable system.
For me, there are a couple of issues that are hanging out there:
* How can I watch content delivered over tcp/ip using my nice new TV
* With the lack of fiber, the content currently delivered by something other than cable looks crummy on screens other than my computer display
The marketers will follow the content, no matter how that content is delivered.
I want fiber, a way to bridge web based content into my TV, and a clean UI to easily surf that web based content from my couch.