John Gruber nails it:
HBO’s old slogan was “It’s not TV. It’s HBO”. That slogan captured HBO’s prestige: unedited major motion pictures, best-of-breed original content, all without commercial interruptions. HBO’s new slogan might as well be “It’s not TV. It’s a tab somewhere in the Max app.”
Yikes. The observation that “Max” harkens ever so slightly to HBO’s longtime competitor Cinemax is astute. That it has more Cinemax than HBO now is a crime.