Apple removes purchased movies, offers rentals in return

Yeah, but that's not really what happened. According to the letter, the content provider removed the content, so Apple had to in turn, remove the content.

And the counter to this is of course - if you bought it on disc, you'd still have it - and that's 100% correct. Digital media has different licensing then purchased physical media so digital purchases that are "streamed" must also follow those different licensing restrictions.

Or I'm completely wrong?