Re: There is no requirement on digital content
Exactly; for whatever reason, Apple has gone well beyond the requirements of the Consumer Contracts Regulations, which include a specific exemption for digital content where download has started - just as they do for media which has had the packaging opened.
Whether you view this as a sop to people who believe in intellectual property of not, it's there and is intended presumably to counter exactly this scenario - of people obtaining something that can be (like a CD) or is already in digital format, requesting a refund and keeping their copy.
It's clear from reading elsewhere on the net that some developers are pretty annoyed about this, and in some cases with good reason. Even if there aren't a huge number of people doing it, it could make a big difference to small developers. As far as I can see, the way Apple is doing this means that you could spend £47.99 on the TomTom Europe app for your week's driving holiday, then return it afterwards, which is surely not the intention.
I suspect perhaps it's laziness; yes, the T&Cs do apparently make clear that downloads remove the right to cancel, but that's not sufficient under the CCRs. You need to make sure that it's clear that once the download starts you have the right to cancel, and the new rules seem to be much more about making things clear than burying them in a document most people never read.
I think all they really need to do is to add a pop up before download that says something like "One this download commences, you lose the automatic right to cancel your order within 14 days"
Perhaps they simply decided that rather than tweak the store apps to add an extra popup for people in certain territories, it was just easier to rewrite the rules. They may even have imagined that it would make them sound even more fluffy and consumer friendly.
But in doing so, they run the risk of upsetting quite a lot of developers; far better to actually implement the rules properly - with a pop-up in-app, and perhaps a global setting for auto-downloads that defaults to off across all devices, as well.