You are thinking in too small a box; trying to generalize
based on the notion that people watch video for the
same reason they read fiction - to be passively entertained -
but with pretty pictures included.

I occasionally stream video content. Quite often music
video, which sometimes is purely for the audio, but
quite often the video is a pleasant addition. I also
stream video when the content has information that is
not easily extracted from available text. News clips,
documentary videos on science or tech developments.
I don't need cinematic quality, and what I get with
a video setting of 360 resolution suits me just fine;
and I certainly care very much about what I am watching.