You are correct but you are looking at it from the wrong perspective.
Who cares about reprogramming your stick: for blu-ray, you want to buy a movie. The movie studio is the one wanting to make a profit, so most of the sale price of the movie should not go into the media.
Therefore, mass producing blu-ray movies, at around $1 (or less) per disc is very effective (the studios will sell you the movie at $9.99 or more).
When will a USB stick for 20GB cost less than $1? It's still quite far off.
The assumption, of course, is that you will have 20+gb of content on a Blu-Ray disc. I am not convinced this is often the case, and an independent could produce these slightly-higher-cost items for distribution and put all sorts of material on them.
Who cares about reprogramming your stick: for blu-ray, you want to buy a movie. The movie studio is the one wanting to make a profit, so most of the sale price of the movie should not go into the media.
Therefore, mass producing blu-ray movies, at around $1 (or less) per disc is very effective (the studios will sell you the movie at $9.99 or more).
When will a USB stick for 20GB cost less than $1? It's still quite far off.