I think Foxtel Now is a decent step towards providing a decent cord cutting service but this should have been foreseen and mitigated. The big problem overall with these kind of services is that now we are living in a world where we have (for the most part) an open internet that can provide instant gratification on pretty much everything, so therefore we expect to be able to view anything we want immediately, I would say that most people are happy to pay to be able to do this with little hassle.
Foxtel does a really good job of bringing the majority of big shows to Australia either at the same time as it is aired in the US / UK (or within a few hours of it), the problem on all of these services (both cable and streaming) is licensing. Until everything is available in one place under one reasonable subscription then Piracy will keep happening.
For example: In order for me to cover most of what I want to watch I pay for Foxtel Cable, Hulu, Netflix and Crunchyroll, this is probably close to $200 AUD per month, I don't mind paying for this as all of them produce decent content from my subscriptions, but there are still items that aren't shown on any available streaming service that I have to download in order to be able to watch or wait 2 years for them to be released on one of the above services, and once you get into setting up things like Sonarr to manage these for you, the ease of piracy vs trying to get something legally starts to become a draw!