I completely agree with Mike Hudack’s blog post from a couple weeks ago about what to call online video shows: It’s the rock star, not the vinyl.
Most people don’t care how TV gets to them or what channel it’s on, they just want to watch. If a show comes via cable or satellite or terrestrial broadcast or the internet or even DVD, it’s still a TV show. We don’t need a new term like ‘netcast’ for the same reason we don’t call satellite TV shows ‘satcasts’. When we need to specify that a broadcast is internet based, we can say ‘internet TV’ the same way we would say ‘satellite TV’ or ‘network TV’ or ‘cable TV’ or ‘pay-per-view’.
A side note: I think ‘video blog’ is a useful term for a specific type of internet-based video show. This is the same as any genre of show: all soap operas are TV shows but not all TV shows are soap operas. Similarly, all video blogs are TV shows, but not all TV is a video blog.