You can definitely cut the cord without doing those things, though the cost savings have narrowed considerably (for equivalent packages).
A lot of it comes down to just how much you want to compromise on. Cable doesn't really require you to often make restrictive TV decisions. But cost is more (especially if you truly want everything) and it's not necessarily the easiest to get up and going (boxes, cables, contracts, whatever). Steaming TV can be up in minutes on any smart TV.