[jfman]

There are TV channels that operate with a far lower budget then ITV. Literally every single one that isn't run by the BBC.

I agree content costs money, the rest of it is too small to be relevant. ITV, and others can and will maintain a presence even when they are primarily streaming.

I don't know why you ask "can't you see?" the answer is emphatically no. Because your argument has no sound basis in economics.