This is a big win for broadcast providers like ABC, who was the leading plaintiff. These companies make big bucks by charging cable providers for content.
For the rest us, it means that cutting the cord is going to be that much harder. Getting all of that live content you love will be difficult without a box or HDTV antenna. You can still use more traditional content services like Netflix and Amazon Instant Video. Streaming devices like Roku are also great, especially for NFL fans.
These are pretty good alternatives until we see how this decision affects cord-cutting in the long term.