Well, I'm miffed too.
We don't have a functioning TV at my house (since the digital switch, we don't have cable and we leave on top of a "mountain"-like hill so the signal is TERRIBLE up here) and therefore have no TV "service provider". So, I haven't watched a lick of the Olympics because I can't watch online without a TV service provider and I can't watch on the actual TV.
Soooo mad. I love the Olympics, even without the horses (which would be even more ideal+I agree with you about feeling mildly disrespected), but the fact that I'm somehow "not good enough" to watch because I don't have a TV? Ridiculous.
On the "plus" side, I'm kinda consoling myself with know that the horses really aren't on much so I'm not missing out on the best stuff...