What addressable actually means here
A conventional television spot buys everyone watching a break. Addressable buys the households you selected, wherever they happen to be watching, by substituting the advert at the set-top box or in the stream.
That changes what you are buying from programme-and-time to household-and-attribute, and it changes the question you should ask about a proposal from 'how many people watched' to 'how well does this attribute set proxy my audience'.
It also means the effective cost per person reached depends on household size, which nobody controls and which is rarely mentioned.