Ten years ago it looked like that might be where the entertainment industry was headed, but then Netflix and Spotify got big because it was even more convenient than torrents. When there are 10 major streaming services with exclusive content, then it's no longer convenient and torrents come back. If it were stupid-easy to get torrented content on a big screen television, then Netflix et al would be in trouble. That's the one missing part, which may keep people on streaming even with the Tower of Babel variety of different services. Netflix et al is installed by default on all new TVs you can buy in a store now. I think there was an attempt to make pirated content easy to consume, those Kodi boxes which are now banned and relegated to enthusiasts now. That's what they are really afraid of, because when your mom can torrent with a remote control it's over.

(Spotify on the other hand is in a different league because there is almost no such thing as exclusive music. It's still way more convenient and time-efficient than torrenting. In my experience you can't even find music torrents anymore unless you go down the private tracker rabbit hole (which definitely doesn't scale)).