This quick video shows you what happens the first time you insert a Blu-ray or DVD in to the Xbox One console. To play movies you have to first download the Blu-ray App for the Xbox. The Xbox One Blu-ray app is a fairly decent movie player, although lacking somewhat as it does not include include 3-D Blu-ray abilities at this time. Hopefully this will be a feature in the future thanks to a software update.
Similarly the PS4 also does not include the 3D capabilities. However Sony does support 3D playback on the PS3, which did have an update mid life to enable the feature. According to Sony the same thing will be happening with the PS4 and latter will have 3D play back. Why Sony would not have this at launch is still a mystery.