DReaM is a Sun Labs initiative to develop a Digital Rights Management
(DRM) solution based on open standards that will also integrate with
proprietary DRM solutions, thus providing both openness and
interoperability for specific customer requirements.
I’m in no position to judge whether this is feasible, but the problem with an idea like this is that Sun is in no position to drive adoption of it. And the only companies that are in a position to drive adoption of an “open” DRM scheme don’t want to.