Exactly. Except that this supposed ratings system could potentially have a bigger impact on quality than the cable model, though I'm not entirely convinced.

I assume most channels make their income almost entirely off of advertisers, and channels which are not watched as frequently are presumably not paid as much. In the proposed system I would assume the idea is to decrease/remove advertising and content providers would be given a share of the revenue based on user ratings? Seems interesting, but probably not terribly practical. It seems this could devolve into clickbait hell pretty quickly.