Even with cable, there's still nothing to watch.
Old movies on cold weekends.
With broadband, you can downstream shows, or highlights as required. World Cup soccer was a great example of that: downstreamed the SUN UK audio, some of us caught matches on ESPN 360 online, Univision was broadcasting on TV.
In the UK, they offered all matches via broadband!
What about Sponge Bob?
Actually, I would tend to disagree... competition has forced a lot of networks to become creative. HBO has some of the best series on TV: The Sopranos, Deadwood, and Big Love have been my favorite shows over the past few years.
Granted, with 900 channels running 24 hours a day, there is a lot of fluffy crap, but there are certainly more good shows than there were 10 years ago.
Yes, but there's a lot more of it.