It's customized vs. non-customized....
Similar to you with or without a remote control. You can either sit at your TV all night watching ABC, and taking in all of ABC's TV programming, or have a remote control and CHOOSE what you watch on TV, and change channels to shows you're more interested in.
I think both will still exist, it's just like in the 1970s, you'd turn the channel to a station, set the bunny ears to tune that station in, remove the static to an acceptable level, and watch the same channel all night. You can STILL do that today. But you have the OPTION of flipping through channels as well.
It is actually nothing like flipping channels at all, that is the same as simply changing radio stations. This is way beyond that. The appeal of this, and other services like Pandora and especially Spotify is not that you can change the channel, but you can skip past entire shows on the same channel to get to get to the one you want to watch. It is like TV on demand for the music world, and there are many different layers of personalisation and customisation, from genres to songs you've highly rated, personal playlists, etc.
Imagine you liked to watch baseball, hockey, nascar, formula one, comedy T.V. series, and snooker. You put those categories into your TV and it comes up with a personlised channel just for you. The TV starts playing a news show about car racing in general. You can choose to watch it or skip to the next program in the queue. You TV learns from what you skip and what you don't skip, and how highly you rate the shows you do watch. It will throw you a few curve balls now and then to see if it can discover new material for you to watch, and eventually, only your favorite specific shows and events will end up in the queue.
Personally, I don't like the TV analogy - listening to music in a few minute long songs is a much different usage model than TV - for one you've got live TV and that won't fit too well into the model - second is the time and engagement levels - watching a 30-60 minute episode is much different that listening to a 3-5 minute song while you are doing something else...
