Yes, Blu-ray offers a beautiful image...this can't be denied, especially when viewed on a glorious HDTV display, and especially if you're setup is equipped with excellent home theater audio. But in an age of Roku, Apple TV and Netflix streaming, I've found I've yet to really miss out on enjoying movies at home without having to physically own the film. I don't believe my enjoyment with a film has direct correlation with ownership any more than owning a film reel at the theater seems a necessity. Perhaps being spoiled living in Tinseltown, where movie theaters are available all around, HD-streaming content seems sufficient for home viewing.
If anything, purchasing movies on disc seems as antiquated as buying software in a box, music in a CD case, or waiting for photo film to be developed. But then again, I've got more than a few friends (notably Generation X and older) who argue I'm missing out on the joys of being able to simply slip in a movie and enjoy the best video quality compared to the stuttering, compressed-pixelated mess that can be streaming video. True enough. But this argument weakens with plans for 1080p streaming options being more readily available (don't think Amazon, Apple iTunes, and Netflix are resting on their laurels), and a healthy choice of HD options available via a variety of services. The last thing I want is a big pile of plastic...and in this age of digital media, that's what Blu-ray is shaping to be.