Steve Jobs described it thus:
"Blu-ray is just a bag of hurt. I don't mean from the consumer point of view. It's great to watch movies, but the licensing is so complex. We're waiting until things settle down, and waiting until Blu-ray takes off in the marketplace before we burden our customers with the cost of the licensing and the cost of the drives."
So, never say "never". I think the Apple aim is to download HD movies via iTunes, cutting out the middleman of physical media altogether.
Applemacster