There might actually be more commercials now than in the past. I remember hearing that TV shows were being sped up by ~10% or so, and that allows for additional time for ads.
I also think that ads are one of those things that you accept until having experienced an ad-free alternative.
We have Spectrum's stream-only service (using the Apple TV). Overall, it's been decent for local channels and a few "premium" channels -- at least for the price we pay (all local channels, 10 premium channels and HBO/Showtime for $15/month).
I agree that the format is stale, but for some, it's a good form of "background noise"; my wife loves to have the TV on even if she isn't watching it, while reading, studying, etc.
There's also no other real choice if you want live content (primarily for sports). You still need access to your local affiliate channels to watch this content, and for some, an antenna is not good enough or even an option at all.
It's hard to believe there was a time that people consumed this many commercials, and didn't think anything of it.