It all sounds great, but...
It all sounds great, but there must be a catch (call me cynical), and I'm disappointed that this article hasn't raised any questions about it.
Anything with DRM means it takes time to be adopted by various platforms, and a download with DRM will have numerous restrictions as to what you can do with it.
What's the quality of the download?
Will a DVD UV cloud copy be the same quality as a Blu-Ray purchased one?
Will there be regional restrictions (buy in the UK, can't watch in the Middle East)?
Will UV require software programmers to pay for a licence for the DRM system (who will pass the cost on to us)?
Will a UV film cost more than a non-UV film?
What quality will this 'lifetime licence' be (sound, resolution etc)? What about in 10 years time when we might have 4K films? I'm sure the film industry is making a reasonable amount of cash because we 'upgrade' from DVD to Blu-Ray; are they really going to pass up on the revenue at the next update? If they will provide 'free' upgrades, can you really see the studios bothering to update older films if there's no money in it?
It's a good direction to go in, but too many unknowns about the future mean people might be hesitant to pay extra for it (if UV is more expensive). If they marketed it as cloud storage for your films, then they might make more headway.
Anyway, we shall see.