You also have to remember that a key part of Apple's business model is distributing content through direct channels: they don't want you to buy a music CD, they want you to download via iTunes, they don't want you to buy physical media at all! Movies? Download via iTunes, stream to an Apple TV, iPad, etc.
While the CD/DVD became ubiquitous enough over the years to be incredibly cheap and did multi-duty in a PC (software/OS, music, movies, etc.), they've finally gotten a number of cost effective, non-optical distribution mechanisms (iTunes, App Store, and for the local, physical copy, solid state drives, like how the MBA bundles OSX).
I know that licensing is a factor, but I think it's that cost and control combined with the Apple push toward all I discussed above. Apple just doesn't want to participate in the "optical interim".
All that being said, I still believe we're highly bandwidth limited. I don't want my video experience to be choppy, unavailable, poor PQ/SQ, lacking additional features. When I want to watch Inception, I want it to be the best experience possible, and for me, right +now+, that's physical media (Bluray to be specific).
Just my $0.02