I think at $8 a month, Netflix is a threat. If that doesn't financially support the content owners/studios at a level they're satisfied by, there'll have to be a renegotiation. Naturally, until then, I'd expect both parties to stand by their contractual obligations.
I'm hopeful that the future does away with Netflix, as well as the cable companies, at least for first run TV content. I'd be happier, and probably spend lots of money, getting the programs I want on a per season or per episode basis, directly from the studio - downloaded vs. streaming and ad supported vs. not all to be negotiated. I can't stand the idea of paying anyone a subscription fee to get access to content I have no interest in consuming.
I'll concede that I don't want to manage accounts at more than a half-dozen network websites, but my TV or Boxee or PC could be easily configured to manage that without much of my direct involvement. Since portability is not a major concern for me, I wouldn't be worried about access away from home.
So, I hope that Netflix is successful with their original programming. Maybe they can show Showtime that I would be willing to pay for access to Dexter, Weeds, and United States of Tara a la carte, and they can cut out Comcast in the bargain. (Not to mention Boardwalk Empire, Mad Men, Breaking Bad, Justified, Warehouse 13, Top Chef... and all the others my wife struggles to find on the internet.)
The only catch is: I will insist on discrete multichannel audio and better resolution and bitrates than Netflix has to offer.