The alternative is non-DRM browsers. EME does nothing to protect content, so the "content is their bread and butter" argument doesn't work.
> Content providers will stick with technologies like Flash because HTML5 alone could not provide EME.
Or, they'd give up on EME because all the major platforms were hostile to it and it provides them no defensible value.
> Lack of such feature set HTML5 backwards because huge content providers would shy away from using web as the dominant platform of media delivery.
Including EME sets the web platform back because we no longer have control of that part of our browsers.