I found that my rpi 2 was not able to play an actual bluray rip properly over ethernet. It was actually slightly better over an AC wifi stick, but still was not able to keep up and seeking was dog slow.
For less than the total cost of a raspi and sd card, wireless mouse/keyboard, case, power supply you can get an android based settop box with kodi already installed on it with a remote and power brick etc. Sure, not a nice fast 4k supporting one, but it plays stuff a hell of a lot better than the pi does.
Never tried bluray and think it would be a very sad experience on my v1 Pi but my setup works fine as it is so keeps me and the family happy
Like most people, I purchased an RPi without a clue what I was going to use it for and it consequently had several lives before settling down as a Kodi media center. I think the main advantage I see using the Pi with Kodi is that I can use my TV remote.