I believe streaming will have the opposite effect. Streaming will begin a competition for ever increasing bandwidth. Much like games. It's is admitted by many games have pushed the PC to its current state. Streaming will do the same for the Internet over time.
The other motivation to move towards streaming from an industry standpoint is it will be extremely difficult for many to copy and distribute the media. BR was supposedly the answer to pirated DVD's. I bet a few of you here are copying BR discs and adding them to your library. Conscientiously I hope, you aren't profiting from your endeavor but technically illegal. You don't own the movie you own a disc and the right to watch the content thereon.
And there is more to this than just movies. On Netflix I have a plethora of documentaries to choose from. Not easily purchased or rented for that matter.
I like the mix, stream, own and rent.