Think of Hulu as an aggregator. They make money through the short commercials. Why go to the individual web sites when you can get what you want in one place.

I have dumped all paid tv services (directv) for the internet.

With software like Tversity, Playon ($40) you can stream shows to your Xbox 360, Wii, PS3. If you can't get Hulu, Bittorent is your friend. You can find most every TV show you'd want to watch.