What is PVOD?
It’s not, really. What makes it “premium” is the fact that you can watch it at home while it’s still in theaters.
PVOD (premium video-on-demand) is when you pay a one-time price to watch the movie digitally on platforms like iTunes, Amazon Prime, Vudu, Google Play, etc.
Personally, at those prices, I’d much rather wait for the Blu-ray release.
The one thing I’ll give PVOD is that sometimes (especially for indie or smaller releases) a movie will be in 4K on PVOD but only in 1080p on Blu-Ray. I still always go for the Blu-Ray copy though.