Um, I think it's mostly the opposite of all the things you said there.
It's full DRM, but various studios will allow you to watch each others stuff in their special Windows and IOS apps. No linux, no Roku, no Boxee, no XBMC , so basically nothing open-source, maybe Android, maybe multiple hardware streamers or maybe just one gets to be "Authorized". Nothing but Windows and Apple computers can be used right now. I would bet that only the Windows versions that are HDPC-compliant and have HDPC-compliant hardware will work (no XP).
"The titles added to the account do not expire and will remain in the digital library unless the account is terminated." So they are yours, until they decide they are not, then poof, they're gone.
Streams can be watched until they decide they can't. Some things can be downloaded, some can't. Some things can be put on DVDs, maybe, but just not now, but maybe, perhaps.
Basically it's a step in the right direction, except for the lack of allowing us to keep things we buy forever, the lack of letting us sell things, the inability to play it on any hardware we already own, the lack of Linux support, the viewing fees on the things we have "purchased" being changed at anytime, the fact that not all studios are available, the fact that UV viewing rights are different from each vendor and different per film, and there are still region idiosyncrasies (some things can be streamed, some can't, some can be d/l, some can't, some can be only rented, others only bought, all at different prices, and with extra viewing fees after a year, some things "purchased" one way can have the viewing restrictions changed at anytime).
Other than all that, it's great. /sarcasm
Looks like I will still have to buy the DVD and rip it to a file, just like last year and the years before.