I can't blame AT&T. Their own effort has been fairly slow. This makes them the #2 provider in the US. Plus it gives them access to the NFL with the big contract the NFL has with DirecTV. Lots of value in that.
But long term? AT&T had better have a plan else they'll be throwing money away. The markets for internet, TV, and phone have been changing rapidly and only will be getting more convoluted. While I like DirecTV and use AT&T for internet, AT&T is already so big their customer service sucks royally and is only exceeded in worseness by Comcast, COX, and Time Warner.