In the terms you're asking no absolutely not and I can't imagine a situation where another broadcaster would as readily convert money into content but I don't agree company x would just absorb the money without any benefit to the end user, eventually they'd seek more profit which means more infrastructure, content etc.
So I wasn't suggesting we can (or should) just give that money to someone else and reap the reward but more that it's a colossal advantage that seems unfair in a way many people wouldn't tolerate if we were talking about another industry (outside of the stuff we consider fundamental like healthcare).
I keep thinking of this thread every time I see an advert for the license fee on the BBC.