Take a look at the amicus curae brief filed by Cablevision (it's in the techdirt link from the story). It's quite interesting. In contrast with the derision/sarcasm in the reporting on this, it actually looks quite solid to me.
Reminds me of the derision/sarcasm/dismissive attitude out there around the legality of Obamacare, but then when it actually went to the Supreme Court, guess what, it WAS a real question. Whoops, pundits wrong again.
It's really important not to let your views on an industry or a law color your analysis of the legal challenges. If you do, you will probably not foresee accurately or plan your strategy and approach correctly.
The question is not what YOU think "retrans" is, but what the LEGAL DEFINITION of it is. It has everything to do with public vs. private performance, and with whether retrans agreements are in place or not. Read the briefs. Then decide how you think it's going to go. Personally, I don't think Aereo has a chance in hell.
Does that mean I think Aereo is bad and the affiliates are good? No, it's just an analysis of the legal issues vs. the law and how i think the courts will come down.