It's not just a question of whether there is some value in TV and movies, the question is whether it's a better use of time than other alternatives. Maybe it's partly just getting older but over time I've found subjectively the quality / value of TV and movies seems to have declined relative to other ways I could be spending my time.
Well, it probably depends on what you're doing. I'm interested in creating fiction and comedy, so, to me when I'm watching shows I'm entertained, but I'm also studying them to see what works and what doesn't; how they approached certain problems, etc. But realistically, a lot of people aren't interested in creative fields, and in that context sure, watching fiction can just be hedonism in a sense. I like to think good fiction and comedy actually teaches you something, though, but in a way where it doesn't feel laborious. For instance, standup comedy might just seem like laughs, but the comedians that are really good at it almost always have a kernel of truth in what they're saying, and comedy is one of the best ways to say something controversial without getting crucified.
Another entirely valid reason is escapism. The world can be a really crappy place. I can say the certain movies/shows have absolutely helped me through some bad times. I've got terminal cancer, sometimes the only way you can really escape the constant malaise of having to forcibly work towards another day is by borrowing strength from the characters on screen.
As to what you're saying about studying the shows I do that too. Gone Girl is a movie that realistically is pretty easy to figure out the twist. But the way that it's written and acted is stunningly wonderful. It's rare to see solid stories elevated.
Comedians have always been and will always be about holding a mirror to society and pointing out the flaws in a way that makes people realise societies flaws, but make the solutions seem comically trivial. I'd wager it's a highly undervalued skill.
