We switched to Apple TV a few years ago and the first thing that died was the channel surfing. I used to lounge in front of the TV (I enjoy television, the good and the bad) and surf into the wee hours of the morning. Well that ended abruptly. Well mostly, I found I like to watch previews now, so its sort of channel surfing. Sometimes its just too much to invest in a whole tv show.
At any rate, consumers are amused, but small channels, who will be passed over and forgotten will suffer. But then again, maybe that's not a bad thing.