Broadcast networks have issues, largely because their costs are so high and their revenue window so small. Cable networks are fine, they make tons of money even if people aren’t watching live with commercials. Cable companies pay to carry them, Netflix pays to carry them. There’s nothing obsolete about the network at all, it’s still the negotiating unit that buys TV shows to lure your eyeballs.
Maybe for the time being. But the networks better wake up and smell the coffee. Already, carriers like Netflix are beginning to produce their own content. I'm currently watching the series called Lilyhammer, Netflix' first original series. I saw a blurb at Amazon.com that was calling for scriptwriters to submit scripts for original content to be produced by Amazon. It's the wave of the future.