I'm also purchasing that DVD from Wal-Mart with the full knowledge that if I copied it or altered it, I would be violating copyright agreements if I became a distributor of that film.
If you made additional copies, sure. If the original was destroyed and you are not making additional copies, then you are not depriving the rights of the copyright holder from making profit. The reason for copyright law is to ensure the copyright holder of being able to profit from their work. If no loss of money occurs, no laws are broken.