People who whine about 1080p ought to know most people cannot stream 1080p content. Also they should know that a digital movie purchase in 1080p would take forever to download and gigs of space per movie. Its just not practical. If you really want and need 1080p stick to the physical media and Blue Ray is your only option.
Why does this just recycle over and over? Most people can't use 4G right now, so should work on an iPhone for the next standard wait until most people can fully utilize it? Most people don't come close to maxing out the graphics cards in their Macs, so why bother putting better ones in? Most people are fine with USB, so why bother with USB3 or light peak? Most people can't even get close to maxing out the hardware in their Macs, so should Apple still be building PowerPC G3 or G4 machines? Most people don't access HTML5 websites, so why bother developing that standard? Most people can't make a movie, so why bother with iMovie? Most people can't record a song, so why bother with garageband? Most people can't use all the features of OS X 10.1, so why bother with 10.7? Most people don't use Macs or OS X, so why bother with making more of them? Most people can't max out most everything they own technology-wise, so why bother progressing at all?
Or do these "most people" only apply to the anti-1080p argument?
A 1080p chipset likely won't cost one dime more to build in than one that maxes out at 720p. Until there are lots of little boxes hooked to HDTVs capable of playing 1080p, there is NO enticement whatsoever to test 1080i or 1080p content for

TVs in the iTunes store. The "720p is good enough" crowd loses nothing if a 1080p iTV is rolled out; their 720p content will play to it's fullest potential on hardware capable of 1080p playback.
And until broadband pipes are pressured, there is little reason to work on widening them. And until consumer storage demands go way up, there is little reason to work on much bigger & better consumer storage solutions.
Once upon a time "640K is about all the memory we'll ever need". Once upon a time a 65GB hard drive cost more than a Mac Mini and seemed enormous. Once upon a time, a 56K modem was "crazy fast". Etc.

TV needs to move along. You don't defeat BD with lower quality picture and weaker sound, nor locked down distribution hooked to iTunes only, nor hobby paced evolutions. It's time to get something that is a real, valid competitor for BD, one that wins on the head-to-head obvious stuff AND works well with our iTunes-based systems. Give the world something they buy like they've bought iPods & iPhones, and the Studios will beat a path to our door with 1080i and 1080p content rentals.
If we have to wait until "most people" can stream 1080p, store 1080p, etc, we won't get there for a very long time... and BD boxes will entrench, while

TVs remain a hobby. Apple needs to lead... not wait on all the other players to completely oil the cogs in every way.