Man, Chris- you picked an awful time to develop a sense of humor- if you have.

For my part, I can't wait! Lion King? Oh, that's on format 'A'. Casablanca? Oh, you need format 'B'. One can continue that with every movie you like, til time's gone.
I'm not an "industry guru," but then again, WFT? Pretty much every decision the "industry gurus" have made has been taken off at the knees by reality, so why bother? My WAG is that if one format reigned (one format to bind them, and rule them all) you could simply sell movies to a lot of fans. Yeah, you'd miss the nickle of royalties on the 1,000 copies per year of a failed format- or you could join in on the feeding frenzy that would be created if everyone could finally justify HD to their wives by bring home "When Harry Met Sally" on an HD video disc format.
Divx delayed the DVD by at least a year, according to industry insiders, maybe more. And that was with a format that was based on existing NTSC standards; how hard a sell will a format war be with a new video standard that only 10% of Americans own? Yeah, about like you'd expect.
Another classic case of chasing nickels rolling on the ground while dollars sit on the table.