I mean, I know there are people for whom $500 is loose change in the seat cushions. But are there seriously enough of them who absolutely must see a new release right now (and who don't know someone who can knock loose a screener for them) to support this as a business?
On their website, there is a "Fact Sheet" PDF with a 1-page business description linked at the bottom. It says:
"Target consumer: wealthy individuals with home media rooms"
Duh.
It also says the two founders were CEO of ticketmaster, and home distribution president at Warner Bros. I suppose these two would know how to price this, and who to talk to for licensing.
