When I watch motorcycle races live on Peacock with my no-ab subscription they just go quiet for the commercial breaks that other providers/plans run. No announcers or on screen displays, but it does keep a live feed or the race. So the whole "we don’t have an alternative" part I do take exception with.

fwiw... I believe Peacock is also allowed to run ads during live events, but at least during my motorcycle races they do not. a couple seasons ago they would go to a peacock banner and not show anything during the commercial breaks, but at some point they switched to just showing the raw video.