Paul, there is a bit of hype in that piece --

The statement "Approximately half of online consumers sometimes watch their favorite shows online" seems wildly optimistic . . .

There can be little doubt that online video is growing rapidly, but this seems to be a bit over the top.

I occasionally watch a 3 min clip of TDS or Colbert, but that is not the same as watching a full 30 minute or full hour show.

Now, once we get the broadband throughputs of South Korea or Japan, well, that will be a different story!

There is hype in it, but it also rings Middle America true. I've long fingered fly-over country for largely thinking of the Interweb as a cheaper Tivo, so it wouldn't surprise me to find out that far more people than the digerati think are in lean-forward mode and watching full-length programs on their PCs/laptops.

While you claim otherwise in your title, all you've really said is that TV is the present of TV. Any new distribution technology is going to first put online existing content that people already want and then develop new content geared towards the medium. Hence, newspapers were putting their stories online a decade ago and blogs eventually developed as written content that was more geared to the medium of the internet. The same way, you're mad if you think the future of online video is the mass media crap that currently finds purchase on a mass distribution medium like broadcast TV.