Streaming became popular because it was easier than piracy and better than TV (watch anywhere, on demand, pickup where you left off etc). Streaming is no longer easier than piracy, why pay for 8 different services and have to waste your time figuring out whats on what when you can just have one service for free, even if its illegal, and have it all under one roof. The services have taken the piss and now they'll get…
I actually don't think that Piracy was difficult to compete against. Actually there was a time when video streaming platforms competed against it --- and very successful. For normal people, it was cheap enough to make a contract, and much simpler than going the piracy route. No one talked anymore about pirating.
But then things went wrong:
* you paid a monthly fee and STILL suddenly got advertisements force-feds (you couldn't even skip them)
* you wanted to watch some series, but it was taken out of the program (never heard of a public library that removes some author after some months)
* many movies made it only into one specific video stream vendor, so they forced people to make 2 or 3 or even more subscriptions.
And once the inconvenience from video stream vendors reached some threshold, piracy was re-birthed. As soon as it become more convenient again.