It might not work, but I like what it caused movie theatres to do - compete. Cinemark now has some $8.99/mo thing that gives you a free movie ticket each month, they don't expire, you can roll them over, and you get discounts on concessions.

I don't have MoviePass but this has already been worth it.

In the end, it's gotten me (and friends) back into movie theatres again. Then we still end up buying/renting the movies from iTunes later.

I thought it would work too, though. The gym membership model. People subscribe, forget they're paying for it, get too busy, and don't go. Then MoviePass rakes in a bunch of money. Clearly that didn't happen.