Screw having your music/movie collection attached to an account with some untrustworthy, profit-hungry company that could cut you off any time they want with their dodgy terms of service.
iTunes music has no DRM of any kind.
As for videos - like I said, the bandwidth just isn't there to support the constant streaming of high definition movies. And I don't have anywhere near the kind of hard drive space that I'd need to have downloaded versions of every DVD I have.