What if they rented the customer the server that read and encoded the customer's copy of the Blu-ray on the fly and streamed it to them using bandwidth that was leased to the customer? Would that violate the studio's "performance" rights? What if the customer is in the same room as the server and loads the disk themselves?

I, as a citizen and a consumer, want to know what rights I have when I purchase a product. The free market depends on perfect information when making purchasing decisions, and this is an area that is vague as all heck. If the rights the sellers of these movies claim I have matched the minimum guaranteed by law (or were even a super-set) then it would be clear. But they continue to claim I would get fewer rights than they are legally obligated to provide (technically playing it is a copyright violation according to their terms, never mind format shifting). They actually have it so ambiguous that it even seems anti-capitalistic.