I don't think any average consumer, when they click a "Buy" button next to the movie they want to watch, understands that they are only buying a license to watch the movie. Most believe it's just like buying a Bluray disc, but "on the computer".

And yes, I know people are restricted in what they can do with Bluray discs, but as long as you have a functioning player, you can watch the disc. I think that's all anyone has ever expected out of physical media. DRM'd digital media comes with much more uncertainty, and that should be reflected in the terminology used to "buy a license" for it.