Disintermediation in the 500 channel world

Noticed an item about BrightCove on John Battelle’s blog.
TV over the Internet? Jeremy Allaire (who brought us Cold Fusion) thinks so and he’s got $5.5 million in VC money to burn.
Allaire envisions a future where:

“a creative spark, a camera and a computer were are all it takes to put television programming before the eyes of consumers.”

Sounds like blogs for TV? And I thought newspapers had problems.