Since the video format wars of the mid 2000's, Blu-ray has reigned supreme for high-definition video.
The problem with the high-density, high-definition optical disk format is that it's also proprietary.
Several layers of access-control are built onto those disks, making them (relatively) expensive to produce, but also much harder to make copies for backups and sharing.
Preventing sharing is exactly the point for a lot of the big name companies that make up the Blu-ray Association.
Their goal is exactly the opposite of what free-culture buffs like Terry Hancock want for their artistic endeavors.
In fact, that's why Hancock's running a Kickstarter
to fund his next project: writing an open-source, completely free format to put HD video on SDHC cards.