I think television (at least cable television) is completely worthwhile, its just not on the standard channels that we've grown up accustomed to. For example, AMC has come into its own with arguably two of the best television shows (Breaking Bad, Mad Men) since HBO's holy trinity of The Sopranos/The Wire/Deadwood. FX has quality programming (Sons of Anarchy, Justified, Always Sunny, Archer). USA has its schtick down to an art form; enjoyable, easily disposable entertainment that has its place. HBO is going through a rebirth of sorts since suffering in quality programming and Showtime has stepped it up big time. One can go down the line with specialized programming that fits your needs as an active consumer (a perfect example of this? ESPN and their (mostly) quality sports programming).
Even if you don't have a traditional cable box, you can get most of these shows streaming online (at least in America) through Hulu or by other, more illegal means. Or hell, there's always the DVDs on Netflix (like how I got introduced to Deadwood and now refuse to take shots of whisky/scotch with no chaser, because dammit, that's how Al Swearengen does it. But that's neither here nor there.).
While some of the points here can definitely improve television, like network executives who don't have a creative bone in their body staying the fuck out of the showrunner's way, having a definitive ending point for some series, or moving to an a lá carte system of purchasing channels, I disagree that television isn't worthwhile now. You just have to (mostly) venture past the networks and browse through cable. Hell, most of the shows that the A.V. Club or Alan Sepinwall recaps are pretty solid (Except for V. That show is terrible.). I'd give them a try and have your faith in television programming renewed.