There are people who believe this, as well as those that see no value in Bluray over DVD, it can only mean they have crap gear to watch it on, have poor vision or indeed haven't even seen it. Though saying that some Blurays are better than others, but even the lesser ones are 9 times out of 10 better than there DVD counterparts. I have the colourised Ray Harryhausens on Bluray, they look stunning, and for fairly cheap movies too. The original Day The Earth Stood Still looks great too... among many others.
But back to Oz, I don't think I've been this excited about a BD release for a while. It seems it's what the whole hi-def experience is all about, taking classics we all know so well and giving us a real visual (and hopefully audio) treat, I can't think of many other titles that could potentially benefit as much as TWoO.