You first need a computer, a high speed Internet connection, torrent software, a good/reliable/safe torrent site and then the knowledge to install said software and initiate a download. You then may need the proper codec/video player to watch the video and of course the wherewithal to stop seeding so you don't get caught by the piracy police. While these hurdles are easy (obvious) for geeks like me (and most HNers) they are not for the majority of the population.
> You first need a computer, a high speed Internet connection, torrent software, a good/reliable/safe torrent site and then the knowledge to install said software and initiate a download.
So the barrier to entry is free knowledge, if you already have the same requirements to watch Netflix/Hulu.
You still need a high speed internet connection, a computer (or do these streaming sites work on tablets? I don't know) and of course know where to go. Also, when your favorite pirate streaming site gets shut down (they all do eventually), you need to know how to find another (safe) site to keep on. Yes less hassle but still not "Cable TV" easy.