I very much hope you're right. We (Reds fans) were all hoping it would fall through last year and we'd have MLB or whoever come in and just put us on mlb.tv or something. I know of very few people that have a cable subscription that has Bally in it.
I will say- it's at least nice I can watch NHL on espn+ but the blackout thing is the biggest hit to that. One of the few things the Apple TV MLS pass did right.
Everything I've seen is they might have a Reds-only package or you can add it to an existing mlb.tv subscription. I would hope it's included by default but from what I read it won't be. At least obviously for locals.