I'm no lawyer, but from my understanding you're interpreting it correct. Apple would however, even if just as a proxy, technically own any movies you are rentin

I'm no lawyer, but from my understanding you're interpreting it correct. Apple would however, even if just as a proxy, technically own any movies you are renting, just as Netflix owns any DVD's they ship you, even if they'll eventually be returned to Sony or somewhere, or used as coasters or Frisbee's around the Netflix offices.