While I am against DRM, what I do like about this becoming implemented is that videos can be encrypted in the file system then distributed over HTML5. This will be good for "private," videos...it's the only positive I can see.
Having the video encrypted (since Netflix is pushing for it anyways, why not use it to my benefit), allows me to provide the keys directly to the content owner for decryption.
I guess the built in support for basic encryption would work here (the mandatory profile).
You could even deliver the symmetric key out-of-band with asymmetric encryption.