I am not sure why it would be OK to pay money (a lot of money) to go to the live theater, or a movie, to watch great actors at work, and not to do it at home for very cheap or free. Aside from movies, television is pretty varied these days. There is, as always, plenty of dreck, but also some spectacular work being done.
Personally, I do like having a television...I don't really enjoy watching videos on smaller screens. Plus if you want to watch with someone, a laptop isn't optimal. Mine isn't large or expensive, and I don't have a fancy sound system. But if you wanted to keep a smaller footprint, I think a laptop or tablet would be fine. I used to have two televisions--one was a hand-me-down--but when it died I didn't bother to replace it. If I'm having a sick day and want to watch something in bed, my tablet works perfectly well.