It's a combination pricing, service, and product problem. Pirates get the same content, but far better - it plays on all of their devices, has no ads, plays on their favorite player (VLC, MPV, XBMC, whatever), and they can watch it whenever they want. The streaming versus downloading argument has also been won by the downloaders many times - local video is a better experience than streamed video [1]. It's an even bigger problem in the anime community, where illegal fansubs provide a much, much better option than the others.
Pirating isn't all roses either. There's a lots of ads to support some of the services. Many services are dubious and try to make you install software that compromises your system integrity. It's not always easy to find the content in good quality. Some jargon needs to be learned. To know how to navigate these waters it means that time has been invested by the consumer.
I suspect there is a ratio between the available price and the perceived value of time from the consumer.
[1] https://mediacru.sh/cpUO31TIqLpo (abrasive language, but good points)