£147 is still a fraction of what I've been spending annually on Sky or Virgin over the years, and currently paying half that each for Amazon Prime and Netflix. Still end up watching BBC mostly.
For that matter, back in the 80s I remember an estimate that the advertising costs ITV (etc) where worth £400 pa to the average household.
So nothings free, but the license fee seems cheap.
That said, the percentage of new content on all channels is dismal.