The issue with blu-ray is (and will likely always be) the decryption keys, which are copyrighted and cannot be distributed legally.
Encryption keys, being purely random, are not copyrightable. (In light of recent events, this raises the question of artisanal human-created keys.) Distributing keys probably violates DMCA section 1201 though.
Encryption keys, being purely random, are not copyrightable. (In light of recent events, this raises the question of artisanal human-created keys.) Distributing keys probably violates DMCA section 1201 though.