Thats because the word 'download' doesnt exist anymore. They now call it 'make available offline" (which means 'download to Mac')
REeason being, that non power users will never realise that the files are actually somewhere on their hard drive and can be copied and pasted into private personal folders and drives without itunes\
Its to make the general public not realise that they can access their files, hence 'make available offline', which doesnt really tell your average user that the file is on the hard drive.
Make available offline means 'download'
You may notice that youtube app in iOS does this too, but it downloads (makes available offline) the files within the youtube app, not to camera roll, preventing people from watching the downloaded file in anything but youtube. The new terminology in iTunes is for precisely the same purpose (to prevent people from using anything except iTunes to watch the movie or hear the music with)
TRhey want us to not download the files, and to store them all in the cloud. But i wont do that i always download to hard drive and remove DRM, because i have already experienced purchased movies and music disappearing after i paid for them in iTunes. One single update bug and we could lose all access to all files if not downloaded, and we all know what it is like trying to contact Apple for some response (nonexistent for iTunes stuff gone wrong)
