DRM is always security through obscurity. As long as you are obscure, it might work for you for a while. However ...
You can use a custom decrypting video play and people will just copy the player. So, they would have to protect the player too -- this means generating a magic token and having the user enter that token. Unless you want. If you want this to work, you must have some form of product registration, where the registration key (the magic token) is based up identifying information on the target computer.
For example, you combine some "stuff" from the target computer, say primary hard drive volume id, create timestamp or the system volume (just to keep it real simple), then you write a webservice that register the software takes these time items and generates the token and this is put back to the users computer by whatever mechanism. Your software then computers the token via the same algorithm when the player runs and fails with a licensing error if they don't match.
You now have new problems. 1) People can inspect the local executable to figure out you token algorithm and just where it computes the OK/NOT OK flag and patch the code to make it ok to decrypt the video stream. 2) If someone rebuild's their computer due to a hard drive failure, their software no longer works. So, you have to figure that out too unless you want to have unhappy customers saying bad things about you on facebook. 3) People know your licensing server will go down when you go out of business, die., etc. so they won't buy your protected video in the first place 4) You will waste of lot of your time that could be spent more productively earning money doing something useful. 5) And you will waste money too
By using a DVD and its native copy protection, you don't waste a lot of your time, but you don't get much protection either an lots of people are smart enough to type in "decrypt dvd" on their favorite search engine. This is the "Kobayashi maru scenario"
Forget to mention one final coffin nail. C# is a bad approach for security through obscurity because CLR can easily be disassembled, you would also need to obfuscate your C# code -- still much easier to decompile / debug that native x85 code.