More often it's almost solely profit-driven.
For example, in the 90s a lot of people thought everyone would host their own email servers. In reality, consumers flocked to Y! mail and later Gmail, since most people really can't or won't do this themselves.
Most people also do not change the oil on their own car (at least in the USA) etc.
In my mind the question is can you develop a great product in this area. It is possible (and sad) that Ring or Nest is as good as it gets (or have default won due to superior distribution). But I do think there are a lot of features I would want as a consumer that would make this experience better for me.
Plus, it seems that the new breed of service companies isn't satisfied with just providing a service in exchange of money. They also use the opportunity to exfiltrate as much data about you as they can get.
Also, in case of cable/Netflix, a lot of downsides are mitigated by piracy. There's no worry you'll be cut off from the entertainment you want, because you can always Torrent it if push comes to shove.