Leaving aside the Channel BT discussion, I think you are broadly correct. Rather than be concentrating on being the best platform to watch content from any streaming service, Apple has decided to compete with them. This is the brain dead sort of **** that the MBA types running cell phone carriers have tried on, forgetting they are essentially big dumb pipes. Well Apple isn’t dumb, but it got where it is today by selling a perfect marriage of OS and hardware. You make content from stuff you bought from Apple, buying the content from them too may not end well if the real content providers tell them the get lost, like Netflix is starting to find out.
Edit: At this point, the best way to monetise this would seem to be offer the service free with every new iPhone or Mac, or just as part of the Apple Music subscription, at best maybe with $2 extra. it doesn’t look like enough on its own, unless you get the entire iTunes movie and TV show catalogue as well, which is unlikely.