While you are right, I foresee a major shift in the production of premium material. Look at all the teeny Vlogs on Youtube. They make it lowly but slowly into the mainstream, premium content area in form of "reality" shows. They production value is oftentimes negligible. Look at all the independent film makers who get better by the day, some indie films are meanwhile better than whatever Hollywood comes up with, many of them produced in Vegas.Long story short, because it's the end of the day, the expectations and production pipelines and process aren't going to change very much for premium content whether or not you get it via Netflix, Hulu, b'cast or Blu-Ray / DVD. And now that more and more HDTVs are receiving streaming content 'web delivery' viewing is no longer limited to a relatively tiny window on a computer monitor. People watching things on big screens expect it to look good.
Somewhen, the production of premium content will be too expensive, so the shift goes to what is nowadays non-premium. The industry WILL find a way to make out of it.
Talking about broadcast: I'm still working on DV Storm at our local TV station, as simple to use as FCP X, and all you need for the production of news cast, talks shows, even soaps. I don't think the visual quality is very much depending on the software used (well, I'd like to have b-spline from Color for secondaries....)