On the other hand, as long as the current streaming services' back catalog of available movies and TV shows is so ridiculously meagre, BitTorrent will do pretty well, I suspect.

I wonder who's going to supply that back catalog. Both Apple and Amazon have a fairly lackluster collection. For the real good stuff, there's FilmStruck (which has a small but revolving portion of the Criterion Collection), MUBI and Fandor. But it's pretty ridiculous that you have to subscribe to a combination of these to get access to quality media.

Meanwhile, companies like MGM and Warner Bros. are sitting on huge, underused back catalogs from their entire company history that's not available to watch, not even on DVD.