Darrell Etherington writing for the Apple Blog:

Call me old-fashioned, but I like archiving my material and I like to have it available whenever I want to review it, or just revisit a favorite scene to make sure I remember it correctly.

Yes, I think you are old fashioned.  Most people I know rent movies from Netflix or Red Box. They don’t buy.  Why pay for something that sits on a shelf gathering dust until the next time I get an urge to watch it?

The point of the Apple TV is that you can stream/watch shows the day after they are aired and movies the same day they are released on DVD. Yes, it’s limited to only two networks (for TV shows) at this time but I expect that to change. I have Netflix and usually have to wait a year before I can stream a TV shows.   As for Netflix streaming movies – few and far between with the same day releases.

Of course, I do think that this incarnation of the Apple TV is still lacking.  I would much prefer 1080p HD movies and 99 cent for movie rentals and TV show purchases.

In the end I think Netflix has the best chance of winning this battle if they can accelerate the pace at which they get same day DVD releases and television show into the Instant Queue. The one feature Netflix has is ubiquity — TiVo, Roku, televisions, Wii, PS3 etc.