It's As Much About What You Can Do As What You Can Watch
This NBC/News Corp thing is promising lots of high quality content. That's great. But you can get that at Peekvid, YouTube, and other web video services already. Sure it may be illegally uploaded but all you have to do is look at the music business to see that the average consumer doesn't give a rats you know what about that.
I don't think web video is as much about quality content, because quality content is available on the web already and there are no walls on the web.
I think web video is largely about how you can engage with the content, what you can do with it. I've been offered the ability to play with some of the technology behind this NBC/News Corp service. I'll do that and show you what I can do with it.
The more I can do the better. Because its more about what you can do with the content than anything else on the web.