I've wondered this as well. The market seems really limited - people who are savvy enough to know about/use Aereo but are content with occasionally watching just a handful of broadcast networks...who aren't really producing the shows savvy people are buzzing about these days. Aereo's legal bills must be insane and the infrastructure looks expensive since everything is custom. Even if they win in the courts, what additional doors does that open up? It's not like cable networks will suddenly want to get in bed with them.
