I see the meaningful difference here being that there is no limitation to distribution across consumers. With studio owned theaters, if there wasn’t a Paramount theater in your town, you’re outta luck.

Today, you can get Peacock and Paramount+ and Disney+, etc on virtually any device. Even Apple, who has been historically resistant to distribution on other devices has Apple+ on Roku and Amazon devices

Because antitrust favors impact on consumers, I doubt we’ll see any substantial legislation is this space.