Okay well when I say 'fully own' what I mean is in the same capacity that purchasing a CD or a Vinyl confers ownership. I understand that owning a copy of content does not provide legal rights to do whatever you want with the content creators work. Legal notices on DVD's, VHS' and Blu-Ray discs have made that very clear over the past 20 years.
However, I want to be able to play my content without an internet connection, and not necessarily from an Apple device -- for instance, from a thumb drive plugged into an AVR. Or from a local harddrive broadcast over a local area network.
Most of all, I want offline playback of my purchased downloaded content. So I will not be buying any shows or movies from iTunes if it means I cannot play the files from a offline computer, Smart TV (via thumb drive or internal storage) or other settop box like a playstation or media-player PC. I care about this because I'd rather not pay for continued internet access after the downloading of my purchased content. I prefer to pay for cellular data and go offline for the rest of my network, with a (mostly ethernet) local area network for home automation and management using various sensors and appliances over the local area network. Part of the appeal of Apple products for me is the large support for offline smart home technology. HomeKit, AirPrint and AirPlay all work offline over LAN. It's too bad iTunes Movie files will not play offline because of authentication requirements.
I have a large collection of physical disks, most of which are blu-rays. But I would like to switch over to a digital collection in the future for various reasons (ease of portability and storage, more playback support. Less moving parts, ability to back up collection with redundancy and so forth).
I do not understand why streaming would be outside my rights. If I wanted to stream a file via AirPlay that seems like a perfectly legal thing to do. I'm assuming you mean file sharing via peer-to-peer connections. It is my understanding that I am allowed to legally make copies of content to give away to friends and family as gifts free of charge.
I understand that making copies to sell for profit is not within my legal rights. But last I checked I am allowed to freely duplicate my own files for back ups.