First of all the HDTV is letterboxing, adding the black bars, not apple or the AppleTV. Apple is selling or renting movies in the format that the directors and studios feel/choose the video should be watched in order to preserve the original artist intention/vision.
Who's ripping you off, the people who crop and upscale the image or the people who created the image?
The fact is that most feature films (TV shows are different) will only have around 544 not 720p, and 816 not 1080p, in order to display the movie as it was shown in theaters and how the director intended.
rant/
What's even worse than zoomed tv is poorly made pan and scan for 4x3 TV. I remember a specific scene in "Speed" that was broadcast on TNT for 4x3 around the late 90's or early 2000's. Since I saw the film on DVD and in the theater on the original release ( the trailer and premise of the film actually were great so don't knock me for it

) it looked very odd when the camera/scan panned between Jeff and Keanu who were actually on the very extremes of the frame.
These two characters could not be shown in the same frame on a 4x3 TV without letterboxing. So the broadcasters pan and scan, essentially changing the scene from both characters in the frame talking to each other, to what looked like a close up on one character to a close up of the other character. While it didn't ruin the movie, bc there are many other criticisms

, it was one of the weirdest technical video effects that I have ever seen, and film was one of my Uni majors, so I saw many crazy things /rant