Blu-ray discs come in other formats (PAL), and other regions. See map:
Blu-ray_regions_with_key.jpg
DVD had something along the line of 10 regions (including 0), and was a complicated mess.
Blu-ray is less complex, but still a nuisance for international TV, movie and film aficionados. It's just a speed bump, not a road block.
The easiest way to make a disc playable is to rip and copy it, which usually removes the region coding in the process. Same for DVD.
Futzing around with hacked or "special" players is the least desirable course of action. At most, I'd use a player that could have regions changed by a "remote trick" -- not something permanent. The issue with Blu-ray is that firmware updates required by new generations of movies could wipe out the multi-region abilities on any player. A copied disc, however, has no such issue.
This is one of the few reasons the ability to copy retail discs is a legitimate action, regardless of claims by MPAA/etc. I can buy it legally, yet they say I'm not allowed to watch it? That's bunk. Removing this silly region "protection" would likely cut down quite a bit on the need to copy discs by fans of movies and TV shows. They do it out of necessity, not because they're stealing anything from anybody. If anything, the fans are the ones who are being stolen from, when they buy something that doesn't work, and "sorry sucker" is the on-screen message from the player.