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Good points. YC seems to be open to all three.
Personally, if you want to kill Hollywood, I think you need to start at the content creation. If Hollywood owns the content, any distributor is ultimately going to be playing their game. If you could fund new content, and offer a competitive means of distribution, then I think you might have something. In the tabletop RPG industry, there is http://RPGNow.com, that allows for publishers to upload and sell PDFs and POD books, and now eBooks. The publishers own the content, and can withdraw it at any time. It works very well. Perhaps just a site that allowed independent film producers to upload their films? Let people pay to stream them, and profit share.