Sticking to the old model of “pay for cable TV and watch commercials” is never going to work, be it cable or streaming. I don’t think I’m in the minority here, either; I’ve heard this sentiment from plenty of others.
As much as wish I could agree with you, the previous ad-free streaming services now almost all offering an ad-supported tier disagrees with your conclusion. Price conscious consumers are choosing ad-supported subscriptions in large enough numbers for streaming services to offer them profitably. I’m okay with this. Not everyone has the money that I do, but I’ll almost always choose the ad-free version of a streaming channel instead of the ad-supported.
One of the few exceptions to that is Hulu. I don’t watch enough on Hulu to make it worth $18/month, and the ad-supported version can be had for $1/month-$2/month.