What if they allowed you to rip your own DVDs, slap some DRM on it and store them in the cloud as well. Then you could have all your media content stored on Apples cloud, stream it to any devices you wanted and since its protected and stored in the cloud the studios would be ok with making a ripped copy of it? Now that is an idea that I think has some legs.
Well, except that the MPAA says ripping your own purchased DVDs is illegal.
Not that their saying so stops some of us...