The sanctity of property rights, however, is not up for argument.
Nobody owes you or anyone else a disc that can be viewed under Linux. Sure, maybe their failure to cater to your format reveals a lack of business savvy. But it doesn't mean they're obligated to give you what you want, or to let you infringe their rights just so you can watch it the way you want. Successfully viewing the contents of a plastic disc on X, Y or Z operating system is not some God-given right of yours. A copyright owner protecting his property, on the other hand, is such a natural right.
Call the entertainment industry stupid, call them dinosaurs, call them Luddites. That's all fair. But they're in no way immoral for protecting their property.
It's too bad so many people who call themselves "conservative" -- which presumably entails a fundamental respect for property rights -- lose their philosophical compass on this issue.