More likely a case of something on the media that can't always be read through. It manages to see through it well enough after several retries, which is why the location keeps moving forward. Just because a disk is fresh from the package doesn't mean it's particularly clean.
The I/O error, if it repeats, is a bit strange in this case. Sometimes you will see that with external drives that have power issues; the read speed reaches a point where the drive can't quite sustain the rotational speed AND operate properly, and you get a bunch of errors as it resets and slows down.
Thanks for responding so quickly. I was going to return the Blu-Ray the next day, but following your advice I cleaned the disc thoroughly and used a different USB port for the external BR drive, and the disc ripped successfully.