That's all you can eat, though. I don't have to worry about emptying out DVRs, or programming it in, or (if I'm not a DVR subscriber) waiting for it to air and sitting through an absolute assault of commercials.
Additionally, I simply refuse to watch a PPV movie for $5.00 per on top of paying $50/mo for cable. Most of the channels are absolute garbage (yes, I'm looking at you, "reality" TV) or air the programs I actually want to watch so rarely that I end up not watching them at all.
Netflix is simple: Find/browse movie, check user ratings and synopsis, click play. That's Apple-level magic, and it's worth paying a premium, even if it means paying near what I did with cable.
Hmm...that sounds a lot like how traditional cable TV packages are structured.