Right, but it still doesn't make much sense to me. They could have easily merged with Disney or gobbled up Netflix, or even made a similar deal that Prime Video did to obtain a library of content.
Offering a standalone service with just 4 shows, and barely anything else down the pipeline for a subscription price not bundled with their other services is insane and they do it because they know they have a cult like following that will buy anything with an Apple log on it.
This isn't far off the mark, BUT....there still is a strategy behind it. While they may have been premature with the selection at launch. Plus everyone still forgets about Snoopy In Space, Helpers, Elephant Queen & Ghostwriter...Technically they launched with 8 originals, lol...and an episode of Oprahs Book Club.
They also, for better or worse, set themselves up with substantial Hollywood players. Two new series (Octavia Spencer & M. Night) are dropping within a couple of weeks. The Banker is scheduled for December.
Granted they should've waited until they had a few series at launch....but it is what it is. They're smart to give a free year...otherwise, you're correct, most wouldn't sign up for it. They have some interesting titles down the line Amazing Stories (Spielberg) Lisely's Stories (Stephen King), etc.
By next year, when all freebies are over, they'll probably have a substantial amount of content that could potentially pull in subscribers.
My original point was it's simply not a surprised that they've moved into the arena of creating their own content. This is a hot commodity now, streaming & original content is huge...most of these tech companies want to expand into "complete" domination when it comes to the consumers entertainment (i.e. Apple Arcade) & their home & how they consume entertainment.