Isn't Vimeo On Demand (https://vimeo.com/ondemand) the indie film equivalent of Bandcamp?
There are regional restrictions, just like every other streaming service. If you are already in a "blessed region", you already have access to all the other services.
There is still the concept of renting, which is just another way of saying "DRM". You can "rent", but by doing so you are limited to viewing it in the way they dictate and for only a limited time. What's worse, some films only give you this option.
For me, that's sort of missing the entire point.