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Here in Holland, which is in the top 10 richest countries per capita in the world, Blu Ray had a marketshare of only 1.1% of units and 2.7% of revenue in 2008. http://www.vgchartz.com/forum/thread.php?id=60800&page=1

So really, BluRay is a niche medium. It could grow, but very unlikely in the coming years, seeing sharp economic downturn.

So I really don't see a reason for Microsoft to add a BluRay player to the 360. Streaming/Downloading will likely become more popular in a economic bad period, since it's cheaper.