Not really a bit issue. More due to the way the encoding/decoding of the actual picture stream works in a DVD format vs. BluRay, the wavelength of the laser, etc.
In reading up on it to refresh my memory, there are several sites that suggest you can get HD video on a regular DVD, but it requires some special software and several reencoding steps to get there.
DVD:
Data Capacity: 8 GB (dual-layer)
Video encoding: MPEG-2
Max video quality: 9.8 Mb/s (most commonly 2-3 Mb/s with bursts to 6 Mb/s)
Max video size: 720 × 480 at 60 Hz (interlaced, IIRC)
Audio encoding: AC3 or DTS
Max audio quality: 24-bits/96 kHz lossy compressed standard, somewhat higher optional
Maximum video length: Less than two hours at maximum quality and resolution.
Blu-ray
Data Capacity: 50 GB (dual-layer)
Video encoding: MPEG-4 AVC
Max video quality: 40 Mb/s (commonly 20-30 Mb/s with bursts to 40 Mb/s)
Max video size: 1920×1080 at 24 Hz progressive (60 Hz interlaced)
Audio encoding: Many, including uncompressed HD audio at 8 Mb/s
Max audio quality: 24-bits/96 kHz lossless (no audio degradation due to compression) standard, up to 192 kHz optional.
Maximum video length: Over two hours at maximum quality and resolution.
Remember, the video encoding in Blu-ray is much more efficient, so you get better quality per-bit too, in addition to having a higher overall bitrate.