All companies r doing cost cutting not just Disney-Star and ur analysis has no solid basis as cost cutting does not mean they will cut down on required spending to expand content portfolio , channels or other expansion work....it simply means that they will filter out/reduce unnecessary spending where returns r minimal or losses r high and even work at restructuring things in such a way where all audience segments can be catered and growth maintained ....basically more of a streamlining exercise which all companies do. If certain audience segment can be better catered via OTT then for such content there will be cost cutting on TV front, where a balance can be maintained it will be done and where TV Channels need more focus same will be done. In times when there is financial crisis looming in the world then this further gains significance.
So u may have them not renewing agreement with HBO but if u see they r massively expanding its bollywood, hollywood, dubbed hollywood movie library. If they have not gone for spending super high amount for buying IPL digital rights as they saw it as unviable thing to do hence they will spend money saved on other things maybe we r getting Star Sports 4k bcoz of it.
Disney+Hotstar will continue to hold strong and their TV Channels will also remain succesfull as they have enough good content and will further expand on it, provide it at affordable pricing and come up with attractive things to expand/grow subscriber base + revenue