You must have only looked into the crippled iTunes version. The app does much more than what you mention on Android devices. This could basically become the iTunes for Android devices with regards to movies and TV shows. It might have some potential with the right support. Although, it seems that Amazon is spinning their wheels already, as they are probably looking to enter this space and the Blockbuster app is not even available on Amazon's new Android Market, no doubt because they have conflicting plans of their own.
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market.android.com/detai ··· h_result
Now you can download and watch the latest movies from Blockbuster® right on your Android phone with this free app! Choose from hundreds of movies, from cinema classics to the hottest new releases. Buy or rent with no monthly fees. Start watching on one Blockbuster On Demand device and finish on another!