Yep, they are cable without the cable. (Streaming cable...100+ channels)....but you need a decent ISP/ISP speed. But probably still WAY cheaper than regular/traditional cable/satellite. Hulu has a similar service for $69.99.
https://tv.youtube.com/welcome/#compare
Comcast owns a minority share.
Comcast is the second largest cable company in the world, so I guess Comcast believes that competition from streaming is very serious.
hulu plus live is a fair price compared to Spectrum which is about twice that for their TV channels.