I think if you use VLC you can circumvent this despicable attack upon our freedoms.
I wonder if part of the reason they agreed to it is that they knew ultimately it was, in reality, basically no restriction at all.
They wanted to make a DVD player. DVDCCA (or someone) required them to block screen grabs during playback as a condition of giving them a proper license for CSS (or something) for their DVD player. They blocked screen grabs during playback.
I doubt "is this really going to achieve anything" ever entered anyone's mind. It would just complicate the licensing negotiation for something Apple doesn't really give a crap about (some random third party app)
You may be right though.