From a Hacker News perspective, I wonder what this means for engineers working on HBO Max. Netflix says they’re keeping the company separate but surely you’d be looking to move them to Netflix backend infrastructure at the very least.
This is a very common narrative to this news. But coming into this news, I think the most common narrative against streaming was essentially "There is not enough consolidation." People were happy when Netflix was the streaming service, but then everyone pulled their content and have their own (Disney, Paramount, etc.)
I don't want one company that owns everything, I want several companies that are able to license whatever content they want. And ideally the customer can choose between a subscription that includes everything, and paying for content a la carte, or maybe subscriptions that focus on specific kinds of content (scifi/fantasy, stuff for kids, old movies, international, sports, etc.) regardless of what company made it.
Live TV? Ads. Shows available as part of streaming packages for channels included in live TV? Ads. Random other stuff "due to streaming rights"? Ads.
At this point I pretty much assume any non-Disney programming that isn't a Hulu original will have ads, and access it by other means, partly as a minor act of civil disobedience, but mostly because I'm impatient (i.e., never in my life have I actually watched television advertising, even when forced to sit through it).