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Redbox’s disc rentals are over
(www.theverge.com)
This is a most excellent place for technology news and articles.
Blu-rays are compressed too, they're just less compressed. Uncompressed 4K at 24fps is around 4.7Gbps (around 600MB/s) so 70GB would only be around two minutes of video.
What they meant is that the Blu Ray rips aren't recompressed again. You can download a 1:1 copy and the quality will be identical to what's on the disc.
Oh! Yeah, that makes sense.