The BBC in the mid 90's to early 00's was absolutely amazing. Add in Channel 4 as well and despite having Sky, 90%+ of content I watched was on BBC2 and Channel 4.
BBC Three doesn't belong as a channel on Freeview because it's target audience watches via different means anyway.
BBC Four belongs on Freeview because its aging audience watches Freeview as it's primary means.
It's content hits are now far more infrequent too - too many serious cop dramas and other dramas from the same small pool of writers/producers that they like and have had previous success.
It's tragic but it's just poor value now too.
It needs a boss who pushes out the political influence and focus, realises that the people of Islington aren't representative of the vast majority of the country, and recognises they aren't in competition with Netflix, they're in competition with the previous version of themselves.