I have bought many movies and TV shows from the iTunes store. I did so knowing that it was not a true purchase in the sense of buying a DVD, or a videotape, or a book, or even in the sense of buying music from the iTunes store (which has been DRM-free since 2009). But I did it anyway, because the transaction still offered a net positive value for me:
- Very long term (but clearly not perpetual) rights to watch the thing; - Very high convenience (easily available on my Apple devices without dealing with files or sync); - Very much easier/simpler than resorting to, shall we say, nontraditional means of media procurement.
But, again, we knew what was happening. Apple could turn heel and invalidate these purchases on their whim, or the whim of the rightsholder. I still made the deal, and still feel fine about it, because I knew that going in. Normal humans tend not to understand this.
(We also have a very minimal cable package. We did the math and realized that it was cheaper to, say, buy season passes of the mid-tier cable shows we wanted to see than it was to pay for the channels in question. If you watch a LOT of those shows, this math doesn't work, but for us and things like Mad Men, it definitely did. Our cable bill is $50 a month lower than it would be if we had those channels, so we could absolutely justify "buying" the show on iTunes -- even if we had no plans to watch it more than once.)