That is exactly what he is saying.
The streamers are not near ready at this time to produce live sports content at the level of ESPN and Fox but they had better have their plans/money in place by the end of 2020 because I think there will be urgency by the ADs/Presidents to lock in the new TV deals as early as possible to secure long-term TV revenue streams for long-term planning purposes. And obviously ESPN, Fox, CBS, Turner and Comcast/NBC will all also need to be in position to bid at that time as well.
Regarding T3, the first domino to fall for the B12 will be the future of LHN. Will ESPN keep it as-is as a linear channel and/or transition it as an add-on to their ESPN+ streaming app, or fold it into one of the Fox RSNs that Disney/ESPN is planning to buy, or morph it into a B12-wide conference network on a linear & ESPN+ streaming basis or buy out the remaining contract from Texas. All of these alternatives will have an impact on how the B12 positions its T1/T2 content for bidding.
If ESPN does rid itself of LHN, will the conference aggregate their T3 content for a streamer or will they explore acquisition of PACN as an equity partner of the P12? Buying equity into PACN does have the advantage of eliminating a middleman in producing and delivering B12 content and it might end up being the best alternative despite PACN's current issues which are primarily related to lack of footprint and excessive cost overhead. I also would not be surprised if a Amazon, Google and Facebook end up buying PACN to immediately upgrade their entry into top shelf live sports production of both T2 and T3 content.