Most modern sports owners are old men with ego problems. Most rich people, especially after a certain age, simply live quiet lives and enjoy their wealth. But this sub-set wants to be NOTICED!!!! Really, they could do a lot of other things with their money and make a far greater return. It isn't greed, it is ego.
Meanwhile the quarterback of the Dallas Cowboys in 1974 made about the same as a mid-career federal prosecutor. Today, the current quarterback is upset that he is being "exploited" by being paid only $34 million dollar per year.
Anyway, yes, the sports model is broken. Of course, there are lots of people that have no interest in sports at all, but who have been paying for it anyway. That model is being broken. Lots of completely sports free ways to get TV. As to the actual issue of this thread, the issue is is the Hulu model of having just SOME sports, but not the most important sports channel (the local team's channel, where you watch the local team) a workable model. I don't think so, but time will tell.