Apple and Microsoft Unite Against Blu-ray

"Apple has a surprising ally in its campaign of apathy against Sony's Blu-ray disc format. Microsoft, of all companies, has also stepped out with a passive-aggressive stance against the standard, as UK head of Xbox gaming head Steven McGill says that 'Blu-ray is going to be passed by as a format.'"

Microsoft was heavily invested in HD-DVD, so I'm not entirely surprised that they're not eager to adopt Blu-ray.  Apple, of course, would much rather you bought or rented movies from iTunes.  I have a PS3, so I have a Blu-ray player, but I've never used it for anything other than games.  I'm much more invested in the idea of streaming content and I believe that Blu-ray, and all physical media, is headed for obsolescence.  What do you think?  Is Blu-ray, as a format, worth supporting?