PBS has become more of a business than a public service. People talk of how they have no commercials. That is simply not true. They just put the commercials at the beginning and then end of the show. Then they beg for donations and have the government fund them. It is very much like paying for cable TV and then having to watch commercials too. Except in the case of PBS, they want you to pay for it three times.
I loved shows like Sesame Street and Mr. Rogers when I was a kid. I believe that if PBS moved to being a self sustaining network it would still do just fine, because many of the things they do are good and the programs are loved by many.
These days they could even cut costs by putting the programming as on demand on the internet. Kids watch things over and over and over again. They could get revenue every time a kids watches the show. Each kid would probably watch each episode 10 or more times. This instead of having them only watch it when it is on TV.
If PBS does end up failing, then it shows that there weren't as many people who wanted it as we think and the government is for the people and if the people don't want it, then it shouldn't be funded anyway.