streaming has absolutely no future.
Streaming isn't going anywhere, and if anything will likely continue to grow for as cable dies off. It's just going to consolidate and get shittier (ads) as basically things move back to a model more cable-like. Piracy will probably ramp back to like levels for music in the early 2000's, but it will remain a niche. Amazon specifically will see blowback for this, but it's unlikely to move many off of Prime since it's sort of a tertiary benefit to having a Prime membership, and even if it's all you got for your Prime membership, it's still one of the cheapest streaming services.
Piracy is not even close to the reason any of the streamers are struggling, and even then I'd be surprised to see if Amazon was actually struggling. Piracy itself is a rounding error, and is more of a function of the shitty way that most of the streamers run their business.
There is a lot going on:
Lots of these streamers, and especially Amazon, keep green lighting projects with massive budgets but then forgetting to tell a good story or hire people who seem interested in making the show they're making. Rings of Power and Wheel of Time have insane budgets for what are generously mediocre shows. I can't even imagine the pitch meeting for WoT. "I want to take a massively beloved cornerstone of the fantasy genre that spans 14 gigantic books and a few novellas, turn it into a TV show with 8 ep seasons, make a ton of changes to the story and lore that is sure to piss off the audience that is most likely to generate word of mouth for us, and for the low, low price of like a billion dollars. You should trust me with this money because I worked on 2 seasons of the hit show (that was on the edge of cancellation basically it's entire run) Agents of SHIELD and a streaming show on Netflix that was canceled after one season." By pretty much any measure, this is an insane set of decisions.
This is everywhere - The Witcher, Halo, Star Trek: Discovery (and most of Picard), Secret Invasion, Book of Boba Fett, just about every goddamn "blockbuster" Netflix attempts. It's either they take a beloved IP and decide to do something entirely different and usually not even good-different (has anyone that worked on Halo even seen an xbox?) or they set up a project with a pitch like "Ryan Reynolds is a big star, Fast and the Furious is a big franchise, make a movie with Ryan and cars or whatever." Insert meme of the guy getting thrown out of the window for asking "does it need a plot?"
The existence of half of these streamers in general belie the real issues. You can't tell me that Paramount+ or Peacock should even exist. The whole premise of these goddamn things is "people want to watch 20-40 year old re-runs of Star Trek and Seinfeld, I bet we can charge $15 in perpetuity for that as long as we sprinkle in the occasional new show that makes a point to let our audience know we hate them for liking these shows."
It's just a massively, massively mismanaged business on basically every level. Ads is the latest in this fiasco. They should be either small, cheap networks that make a lot of small budget shows, or if they're going to take some big swings they might want to have a proven strategy of any sort. Quite a lot of the shows that found massive success were made for basically the change you find in the couch cushions. A show like Friends probably cost about $7 for the first season, and didn't balloon until later seasons when the cast was each making a decent amount and every other episode had a major guest star. Most sci-fi until very recently was extremely cheap. Carter: Sir, we've arrived on the planet, looks like the MALP was accurate. O'Neill: It's really weird how most of the planets we visit look like the woods in Vancouver, BC. Even Game of Thrones which probably started this arms race of spending, didn't start getting $20+ million budgets until it was a massive, massive hit (worth noting how that show tried to stick closely to the source and didn't start to suck until they ran out of book) and even then that would be seen as "cheap" compared to a lot of these.