So while those tens of millions of users and subscribers (Netflix had 36 million at last count) buy a different device, Sony pins its hopes on something that barely exists yet. Good luck with that! And good luck with getting any revenue from it, when folks are so invested in other applications and services.
The PlayStation Vue service is coming to PlayStation 4 and PlayStation 3 users (with iPad coming soon and other Sony (i.e., hopefully PlayStation TV and non-Sony devices later). It offers cloud-based catch-up and on-demand TV from the likes of Fox, CBS and NBC. There's no subscription, just pay for what you watch.
An early beta is rolling out around some US cities. It will launch properly in 2015, I suspect Sony believes the PlayStation TV and Vita will be all but dead by then, so perhaps that's why they aren't bothering? Will Vue come to Europe? Given the fragmented market, at least not for a long time.