I have not kept up with their developments but it was created by Mormons to help families stream movies while filtering out content deemed not appropriate. IIRC at one point and possibly to this day the tech included a massive farm of physical disks being spun and streamed to end consumers with skip points programmed in.

I was interested because they had a way to rent movies for $1, which I think is a fair price for older titles (I'd actually pay $2 for older titles). I feel like their business was essentially Redbox, but with a more efficient way of transferring product from one person to another, with a layer of customizable filtering on top. That seemed completely legit to me, but apparently copyright law doesn't agree.