to that end, why doesn’t the NFL or MLB or any of the major sports including MMA just self distribute and keep ALL of the revenue?
MLB, decades ago, decided to let individual teams negotiate television rights because they didn't think it really mattered (MLB is really the only organized sport to really suffer from this technological change).
In the 50s, TV was nothing. There was no money there... fast forward 70 years, that has... changed.
But MLB put those rules in place and the teams that benefit the most are loathe to relinquish control.
So here we are.
The upside is that all internet revenue is evenly distributed to all teams, much as TV revenue is distributed evenly through other sports leagues. In time, as streaming takes a stronger hold of the market, baseball's 60-70 year old bad decisions will begin to wane in importance.