I think we need to clarify a few things...
First, Aereo only offers to provide this service to you if you live in the same general broadcast area the signal is originating from. So if I live in Dallas (god forbid), I can't stream the local broadcasts from Chicago. Now, if I lived in Chicago and was traveling to Dallas, I could keep up with my local news (or the real issue, the various Chicago-area broadcasts of an NFL or MLB sporting event) by streaming them online to my laptop or tablet.
This is really a way for folks to get a clear signal of their locally-broadcast networks, which again, are broadcast for free (ad-supported, really) to anyone in the area with an antenna that can pick up the signal. And if you live in a very built up area or in an area that is a dead-zone, it can be hard to get that signal. And in today's world of digital signal, you can't watch a noisy signal and still see things with a snowy picture; it's all or nothing.
As far as ads, there is no difference between watching your local NBC affiliate over the internet, air, cable, or time-shifted. Today's ratings are based on numerous surveys that capture both in the moment viewing as well as same-day viewing (accounting for time-shifting).
I imagine that Judge Kimball's ruling will just become one more data point used by the Supreme Court when ruling on the matter (as they have already taken up the case). The federal appeals court where Aereo is based, New York, ruled in favor of Aereo, which resulted in the appeal to the Supreme Court. I believe other courts ruled in favor or Aereo as well, and this is the first loss they've suffered.