Community: internet TV's biggest leg up over HDTV?

Almost all experts agree that internet viewing is growing in popularity, be it TV shows or just random clips to escape from reality, but we've all wondered just how viable the world wide web was as a standalone source of programming. An insightful writeup over at The Daily Cardinal got us thinking even more, as it points out one advantage online TV has over standard TV in almost every instance: community. As the author stared into the 900+ options in a satellite EPG, he at first "marveled at the number," but soon he found the overload to be "just annoying." From there, he noted that internet TV brings near-instant viewing on anything you have a mind to search for, and while he couldn't remember the last time he and his pals had a great time hovered around the traditional tube (Super Bowl notwithstanding), he vividly remembers the first time his posse checked out the "Charlie Bit Me!" clip on YouTube. Frankly, we still don't think internet TV will be eating into pay-TV anytime soon -- if anything, it'll act as a complement -- but for those thinking the former had zero advantages over the latter, should you not think again?