Unfortunately Blu-ray has never taken off in the way that VHS and DVD did. To this say, 14 years after the introduction of Blu-ray, DVDs still outsell them. Streaming services makes matters even worse for Blu-ray.
On the one hand, it's satisfying that Blu-ray was never the success that it was expected to be, because it's a highly annoying proprietary Sony format that has ridiculous levels of encryption that can make it difficult or impossible to watch your own movies that you bought and paid for, and even if you can get them to work today, there's no guarantee you can get them to work tomorrow because of the ever-changing encryption/protection schemes. Also, Blu-ray licensing is expensive, which is why most Blu-rays are more expensive than their DVD counterparts.
On the other hand, the picture quality is [potentially] fantastic; it's comparable to the picture quality of a 35mm theatrical film print, something which is highly impractical, expensive, bulky, heavy, and not even quite legal to own.
Ruthless People exists in HD already, so it would be very easy and cheap to release it on Blu-ray (because the expensive process of cleaning and scanning the film to HD digital video has already been done). If it ever gets released on Blu-ray, it will probably be from a specialty company like Shout Factory. They've released a lot of movies on Blu-ray that are more obscure than Ruthless People; Cohen & Tate (1988) for example.
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