alt Hacker NewsApple offers refunds for unwanted digital purchases, and this description in Apple TV app:
When you purchase access to this item, you can permanently download it to your iPhone, iPad, Mac, or PC. Once downloaded, you can access this without an internet connection, and Apple can't remove it from your device.
Wait, so it's actually a standalone, DRM-free download? If that's the case, then while the term is still somewhat misleading, it's considerably less so than I assumed.