Exactly what contents are you talking about, that are available online from Microsoft that are equivalent to a 50GB data ?
The movies are out there being streamed, you can stream movies from netflix, Vudu , Blockbuster, Hulu, PSN etc etc. IN HD as well.
But once and for all try to understand that FOR NOW, Bluray is the main way. Sure in 5 years , it will be replaced by streaming.
Now just cause you dont like Bluray, that doesnt make it obselete. I bet youre the one who...