Sports is a big part of the issue... baseball in particular for us. We follow our local team very closely and watch about 80-90% of games. MLB.TV is not a good solution. We would either have to cheat and use a VPN to see games live, or watch them after the fact.
But there are other reasons people want live TV. I don't watch the local news, but DW does, especially if there's a breaking story. Also, we live in tornado country, so it's essential to have access to the local weather break-in's during these events. Again, we have no OTA, so we have to subscribe to something to get this critical information in real time. I watch PBS NewsHour live every night on YTTV, but it's also available as a livestream on free YouTube.
DW also watches one of the "morning shows" which is live. And she occasionally watches some awards shows and reality competition stuff, where you get to vote in real time. Not my cup of tea, but she likes it. She also watches some primetime shows when they first air, just because she's really "into" the story and wants to see it ASAP.
We both like watching debates, election coverage, important speeches, etc, although there may be alternative ways to get some of that live... not sure.
Anyway, it still boils down to cost. YTTV was OK at $35-40, questionable at $50, but unreasonable at $65 for our needs. We can use Locast for the locals. So basically, we're paying $65/mo mainly for baseball, which works out to be $13/game in 2020 with the shortened season. Wow!