A similar argument has been made for commercials. "Without the breaks, the audience becomes less engaged over time! Watching with commercials makes the show better." I dropped my cable subscription because of my loathing for commercials. I'm not sure how much less engaged you can be than that. Watch however you'd like.
I read an interesting blog post via HN several months ago regarding the future of television formatting. The gist was that now that getting a show over the internet is starting to become a reality, the need for shows to run for a fixed duration of time or be released serially is alleviated. The storytellers can do whatever they please. I really enjoyed Netflix's new series Lilyhammer[1], and loved that they dropped the entire first season all at once.