I wouldn't say that premium cable is over. Rather before you used to pay $60 + premium channels a month to have cable tv. Now you pay $15+15+15+15+15+15+15 ... + 75 for internet connection that doesn't have data caps.
Personally I think the de-bundling of cable TV and the getting rid of ads (i seriously never understood how we can pay for cable tv and still be forced to watch ads) is a great way for the market to move forward. It shows you that the consumer does ultimately get the final say so.
However, I do not believe that costs are getting cheaper. If anything they are just going to keep going up and up.
Also the crazy level of competition going on right now to produce "service selling" original content, is in my views creating a situation where we keep getting a sub par product out of the deal.