That's almost entirely because it is packaged with Disney+. As a Disney stockholder, I can also tell you that has not been going as well as initially anticipated. I'm thrilled that I bought between $80 and $120, but sure wish right now that I'd sold at $200. If they don't bring back a meaningful dividend soon, I'll find better use for that capital. I still believe in the company and power of the brand(s) long term, but current management leaves a lot to be desired.
I would also bet that most who pick up an ESPN+ sub do it for live sports, not the talking head content.
But yeah, it's asking a lot to fill 24 hours with "content", and they would be in a downward spiral either way, but they've done themselves no favors with the humorless, super serious, hyper political approach they've taken.