If there's a main difference between seeing a film screened theatrically at the Tribeca Film Festival and watching one streamed through the event's virtual player, it's that it's easier to "walk out" of the latter, especially given how many distractions there are on the internet. As far as "alternative distribution model" ventures go for film fests these days, I prefer the VOD option given that it's more like traditional home entertainment. The streaming web idea might be best suited for shorts and live coverage of red carpets and Q&As. And maybe for sitcom-ish movies like Elvis & Madonna, which can be broken up and watched intermittently over the course of the eight days it's available.
Initially I virtually walked out on this Rio-set rom-com about a lesbian photographer/pizza delivery "boy" named Elvis and a transgender (she calls herself a transvestite, but she has breast implants) hairstylist/showgirl named Madonna when it quickly became apparent that it was less Almodovar and more just the kind of broad, badly written comedy that only gets exposure because of its LGBT angle. The Tribeca film guide calls it "one of the most unique romantic comedies to emerge in years," but really it takes more than a plot involving a gay girl getting accidentally knocked up by her apparently-still-has-a-penis lover to be truly original these days. And having a weak subplot with a scary drug dealer/porn actor/ex-boyfriend is not that extra measure, either. Especially when the depiction of crime is quite cartoonish compared to what we're usually given with Brazilian cinema (and television, even) lately.