Pros for laserdisc over vhs and dvd. No region code and no macrovision.
Pros over Blu ray no drm.
Hacks or ways to bypass macrovision and dvd region lockouts were taken care of though not necessarily legal under USA laws.
Blu ray could have been without region codes or lockouts but Sony and some studios did not want that because of reverse importation.
While a Blu ray movie that is in region A say a japan release will also work in the USA, a Blu ray pS3 game will not.