An impending DVD standards war. Or, at least, that's what everyone's saying.
I don't think so. I think the days of standards wars are coming to an end. In this case, both standards will be so cheap by the time they hit the mass market (the first one already is) that hybrid solutions will be cost-effective for the mass-market.
The real threat is China's gray market standard - which obviates the royalty scheme that the entire industry's business model is based on.