What’s happening is these subs are coming in from other bundled services.

Spotify student comes with Showtime.

T-Mobile comes with Netflix.

Comcast gets you Peacock.

Several credit cards pay for “streaming services” as a statement credit, etc.

For now, as long as they’re “free” the value proposition is fine. It’ll fall apart when we have to pay for them for “real”.

(“Air quotes” because we all know it’s not really free.)