So, even if you buy a physical incarnation of a copy, you might not actually own the content on the medium. Thanks a lot, Mickey Mouse /s
From what I've read Redbox is buying Disney "combo packs" that contain a physical DVD or Blu-Ray disc and a printed code that can be used for streaming the movie.
Redbox has been splitting those, renting the disc from its kiosks, and selling the piece of paper containing the printed code.
As far as I can see, it is the codes that are at issue, not the renting of the physical discs.
Buy it and rip it. Nothing they can do about that.
It's illegal (breaking the encryption), so they could theoretically pursue legal remedies.
I would also like to point out that laws only work when they are enforceable. And a great way of getting rid of a law is for all of society to just break it, and encourage others to break it.
When everyone breaks a law, it becomes harder and harder to enforce, and is an effective measure of eliminating it. If not dejure, then at least by defacto.