Definitely not a ripoff. I've been on the 2-at-a-time unlimited plan for about 2 years now and I love it. The price actually went down a few months ago, and we got access to unlimited viewing of movies online. I haven't really had any problems. I've never had a wait for any movie, even new releases, but I don't try to get them the first day they're out, I usually wait a couple of weeks anyway.
Really there's no reason not to switch.