Whether or not it delivers on its hype, I'm sure that bandwidth will soon increase enormously. Record company executives will recall with nostalgia the days of MP3. Enormous files will fly around the globe. Just saw a great flick. Here it is.
Encryption exists to be defeated.
Movies, television, recorded music, and the texts of books will be essentially free. This will inspire a wholesale move by the entertainment industry back into analog and physical media, and into live performance. You can't digitize a live concert. You can download all the words in a book, but you can't digitize the feeling of holding one in your hands. You can trade MP3 files, but vinyl record stores get top prices for classic LPs, and buffs claim that vinyl sounds better than CDs.