Apple is in talks with Viacom, HBO, Disney, ESPN and numerous other production companies, about creating a new content service for their rumored Apple television. Apple’s plan is to bundle channels into apps that stream content directly to the unannounced Apple’s special television. According to leaks, Apple's vision is to entirely remove the need for any kind of STB in the living room. It sure would be nice to have one less component. However, they would really need to get ALL the content that one can get on cable/satellite for people to come.
If Apple could pull this off, then the "cord cutting" phenomenon could finally descend upon us. Of course, can streaming content be as good as cable or satellite? With the recent approval of the H.265 specification, it probably could be. A new codec for a device that does software decoding, wouldn't need new decoding hardware.