I've been running a HTPC for 15 years.
Current spec is a 2500K with 16GB RAM (from old main rig) a GTX450, Blackgold DVB-T2 tuner, 10TB of storage, FLIRC remote in a black Silverstone HTPC case.
I use NextPVR for scheduling and playback of TV and Radio recordings and for accessing my archive of video content which includes TV shows, movies and music videos (concerts).
NextPVR can stream (and transcode when required) to other clients such as web browsers and mobile devices so I can watch live TV in another room if I want to.
It can also run as a recording service for Kodi, Emby and Plex but I don't currently use these apps as they don't give me any additional functionality that I actually need at this time.
I run Roon server for managing and streaming all of my music and internet radio to my main hifi and kitchen radio via raspberry pi endpoints.
I also periodically replicate my photo collection from my main rig to this PC as additional backup but it also means we can show photos to family on the TV.
For streaming services I use a Roku stick into my Sony 1080 TV which is has no smart apps as it's quite old.
Why bother with recording live TV instead of streaming the show?
Well mainly because that's how I've done it for 15 years and also, our list of TV recordings is limited to just the content we want to watch without having to browse / search through 100's of shows (in say iPlayer) we're not interested in.
I also recall that the streaming services on the commercial channels force you to watch adverts which is annoying. I've barely watched a TV ad for years, I just press FF 3 times to skip past them.
As a when I get a 4K TV, I will likely explore using MadVR for upscaling 1080 content to see how it compares to the TV's upscaling but I imagine heat/noise might become an issue and I may also need a new graphics card.
The PC runs very quiet but not silent which I'd prefer. I use speedfan to regulate the single 120mm case fan as well as CPU fan but the PSU fan is slightly noisier than I'd like (it's an 8 year old Corsair).
I also like having a HTPC as it's basically something I can tinker with.