I think MS buying Activision is also a losing play but MS is in a better position to spend that kind of money compared to Disney.
If the strategy was to kill Hulu then why keep it around? Just axe it or sell it and put all your stuff on one app. I also don’t get the Paramount+ and Showtime strategy. If you are trying to beat Netflix by having better content why split it into 2 apps?
Streaming could be a whole other post really. All these companies have bought into having their own app and they are all losing big time. Might be time to reevaluate streaming in general.