Can cable television be threatened by iTunes and Netflix?

Is the age coming when traditional cable television syndication and companies will be threatened by the emergence of web technologies that can deliver some of -- or the same -- content to customers? Who knew Apple Inc. (NASDAQ:AAPL) would be competing with established TV networks back in 2001 when the iPod was introduced?

In reading this account by a blogger (an admittedly early adopter) who canceled his Comcast (NASDAQ:CMCSA) subscription in order to get the same content from iTunes and Netflix, Inc. (NASDAQ:NFLX) -- I have to wonder if the wonderful content empires that run popular culture with, umm, pretty trashy shows in any respect, will start crumbling as the democratization of content becomes more and more possible (and easier)?

The larger content distribution companies are in the game to bundle and make their shops a "one-stop shop" for consumers, playing up the angle that mucho dinero can be saved. Is this really true? Does this lock consumers into bundles where many of the offerings are substandard?

Maybe so -- I've always found better value and more personalized services going with different providers for everything. Although I don't "get everything on one bill" (I still don't get that marketing angle), I can pay them all in a few minutes using the web anyway.