There's no cheese down this tunnel
With the exception of a web browser, when users see a file on their computer they consider it their property... and the concept of "leased" property fails mightily amongst most computer users.
Those of the Mac culture see things this way, and will experience a great offense if this kind of offer is made - even when framed as a pilot program. Apple should be ashamed for introducing this type of transaction, primarily because it goes against a culture they themselves guided away from temporary media (be it "lease" or "subscription").
There may be an untapped market for renting digital movies (especially bad ones), but a rental is no different than a short-term subscription (albeit to a catalog of one movie). Really nice try Apple, but this one will fail (as it should)... The future should look nothing like the past, and "rentals" are an obvious attempt at burdening the user with strings tied to a purchase, even if we don't have to physically return the video at the store this time.