First there is no such thing as non-disruptive advertisements. Product placement is still disruptive. They have to write it in and meet certain obligations in the way it's presented, so it is disruptive. The ads for other shows at the bottom of the screen can also be disruptive. I think you could see a combination of things.
Ads at the beginning, like trailers before a movie is fine. Ad subsidy is expected with low-cost or free-to-consumer content. Excessive ad placement and many interruption intervals in content that the consumer is already subscribing to, becomes tiresome.
Product placement is sometimes corny, but less obtrusive than stopping the story, and showing more ads, for progressively longer intervals as the program nears it's end.
It's possible to carry subscriptions yet make extremely expensive things an additional charge. That might result in lower subscription rates. Just don't be surprised if cable providers re-evaluate their fee schedules for internet service. Even today they offer packages to incentivize the purchase of multiple products. It's also important to consider that timetables won't go away completely. Even if a show is available whenever without pre-recording, they will still have a scheduled release cycle. I expect cable would still get it first and it might be available via itunes a day later.
Of course there is a release schedule. Everything that is produced cannot be available before it is completed. Nobody is expecting a temporal paradox.
But the concept of "missing a show" is ridiculous with current technology, and some content providers do not release full episodes for later viewing if one doesn't have a DVR for themselves, or doesn't have it programmed for a certain thing. And some people get in on shows in the middle of their season run, and then might want to go back and watch previous episodes, which again, some networks don't make available on the internet after the initial airing.
Netflix is cheap, and they get a fair amount of recent content. Stations have cut back on internet content due to the royalty disagreements. We'll see what happens. I dislike a trend to a la carte as it means stations would become increasingly conservative on what they green light.
Frankly, as someone disgusted with the depths to which some TV content will go, higher standards might actually be welcomed.
Plus, a free-er market for piece-meal content, means more targeted demographics, and getting closer to consumer demand, not insulated from consumer demand by bundling.
I would think that production networks would get more in tune, and efficient at providing with what their audience is looking for, not less.
But the people making un-watchable schlock to provide schedule filler might see their gravy train come to the end of the line.
As a consumer with less buying power in this economy, I would rather my entertainment dollars be spent more efficiently, and my costs be kept lower anyway. It is still the consumer's choice to just shut their media devices down altogether, and not pay for anything, and go read a book.
So if entertainment still wants a piece of the consumer's discretionary spending budget, it may be in their best interests to get more efficient and tailored to the consumer's demands... the way a marketplace works.