Apple TV is now going to be a content producer? (obviously non-core)

Ok, so Apple is now getting into the content production game, and according to this NY Times article, is close to rivaling Netflix's $8 billion budget and will spend more on production than Amazon, YouTube, and all of the television networks. Despite the fact that getting everything up and running is going slowly, which is to be expected, Apple stepping into this space with multi-billion dollar investments in production indicates, to me at least, that we have reached a tipping point in the demise of cable and broadcast television. I really can't see them lasting on the old commercial-advertising model much longer, and I am interested to see where the industry heads next. Hopefully these changes spell the end for 24-hour cable news as well, but I am not holding my breath quite yet.