Ask HN: Could Netflix allow you to rent a colocated DVD player that streams?

Hypothetically Netflix rents you a multidisc DVD player at their HQ and rather than mailing you the DVD they insert it for you and you can stream it back to your device. You pay more for more simultaneous DVD and faster swapping speed. Then they can effectively stream the full library of content and get around streaming rights. Is there any obvious reason why this wouldn't work?