Honestly surprised it took this long. I guess it's less than ideal, since the wii doesn't support modern tv resolutions.
The fact that it has component video out makes it a swiss army knife for everything else 240p/480i/480p.
I watched a backup of a [480p24] DVD movie with a (hacked) Wii quite a long time ago, as a fallback after the PS3 I was using got tripped up on that film's Cinavia[1] watermarks.
The Wii worked OK-ish, but it was evident that it was barely keeping up with decoding the MPEG 2 video from the disc and putting it on the screen. Perhaps there is or was better software for that job, but there were some glitches and brief hangs.