The evidence shows otherwise with year on year growth forecast over the next few years. All backed by advertisers as this is utopia for them, the ability to target and track the audience. That is where a lot of the money is.
There has always been a massive market for archive content. The content which they grew up watching or just that they have grown comfortable with. I don't really agree with your theory about one off dramas, that's a pattern for people who like to get absorbed in big drama productions, which isn't everyone. Much of the time, nowadays, we get TV channels releasing a whole series online as they start to show weekly episodes of a new show. Meanwhile, the streamers often adopt the method used by linear broadcasters and release a new episode each week. In any event, FAST channels are ideally suited to news, music channels etc which on-demand streamers are not.
We don't really have to wait and see. Just follow the stats and see how things develop. Remembering that advertisers and the whole marketing industry has a vested interest in this doing well.
Viewing cat and dog videos is more the way older generations use YouTube etc. TikTok, YouTube Shorts and the like are conditioning younger generations to expect their content in compartmentalised 2 minute packages. They don't develop the concentration span to watch long drama productions, so we'll have to see what impact that has on your prediction for the on-demand future.
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The channel move has been confirmed by UKCTVC on their X feed.
https://x.com/UKCTVC