Switching to different quality encodings is possible only if the content provider has encoded in different bitrates like Netflix does. If there is only one (4 dot) stream available, then the player can only play that one and it won't be able to step down to a lower quality.
I guess that pretty well spells it out then. Guess I won't be spending much time watching channel store video. I have a rural AT&T DSL connection, and I'm lucky to get 3mbps. There is no option to increase the connection speed.
Thanks for the answer though. It's nice to know WHY, even if I can't do anything about it.