I think you're over-discounting the zeitgeist effect. Breaking Bad, for example, is fantastic TV on its own, but the fact that lots of people I know (even those who aren't caught up in the current season) are watching it right now makes it a lot more fun to consume. There are thousands and thousands of books, films, etc in the archives, so why do we all get so excited about new stuff? Because there's something about enjoying these things together that's a big part of the human experience.

In other words, access to specific parts of the culture is still a big deal.