There's probably less than a 1% chance of it being movies or DVD playback. I just don't see that happening. A demo channel is more likely, though I also wonder how possible that would be, considering the limitations of the onboard storage capacity of the Wii.
However, maybe a demo channel for the VC games? That could work. The other two things I think are most plausible are chatrooms (perhaps utilizing the keyboard support?), or online functionality of VC games. Although that last one probably isn't very likely, either.