And how would you suggest that these many hubs differentiate themselves to compete for your business? If your answer is "they can compete on price," then I think you've just answered the question of why they don't want to do it that way.

So much content is already locked behind exclusive streaming rights. I don't see how this would happen without extensive regulation.

Non-exclusive distribution is a failed business model.

Exclusivity works. Most of the population don't torrent. Exclusivity drives subscriptions.