I should have said, for maximum compatibility at the lowest possible cost. They could get several versions of the movie for you to choose from, but it would make things more complicated for the user (who wants to click once and watch) and very likely more expensive as well. The option is available, just not on Netflix, a budget service infamous for poor selection and (although I understand it's improving) picture quality.
It would be just two versions (original vs cut), not several, and an option like that would be hidden in the in-program options menu along with subtitles and audio. Technically you could only store metadata for the latter and do the resampling on the playback device, but there probably isn't a workflow that makes that possible.
I find picture quality excellent when using the AppleTV. The PS3 client is a bit less stable, but almost the same after some buffering.
