I have little doubt that Apple will soon support BluRay, maybe even at WWDC, but really, how much demand is there for these things? It isn't as if they are flying off the shelves at Best Buy. BluRay will never sell like the DVD players and recorders because optical drives are on the slippery slope headed toward being the next floppy.
In the next few years, all drives will be SSD and data will be transferred via the network. Optical drives just lasted longer than floppies because their capacity far outpaced the capabilities of the network and our old internal hard drives. That won't be true for very much longer.
We can watch HD without problem. As for burning BluRay HD DVDs, most of us won't ever burn more than a handful. Personally, I never expect to drop a BluRay into my Mac Pro.
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While I agree,, you might want to check out some of the forums that deal with home theater.
avscience.com
hometheaterforum.com
thedigitalbits.com
And see if you still think this way. Also, a lot of people are already burning HD content to there hard drives and storing them on their media servers. Then playing them back via HTPC in the living room.
If blu-ray doesn't take off by Christmas or 4Q then I think you may have a pretty valid point.