Is there anything that Philips Projection can do to fix the issues you have, or is your mind already made up?
You could for instance post a few pictures showing the contrast issues, and perhaps post in more detail which kind of files exactly (encoding used, bit rates, storage method, playback method or app, etc.) exhibit problems.
The Pico Pix Max has many players like the preinstalled MX Player Pro (it works very well and uses hardware acceleration), but can also run many other downloadable movie players, have you tried any alternatives to the ones built in? Such as Nova, which was recently recommended to the community by a fellow backer, or Kodi, for which we have been working with the chip developers to improve the performance on the PPM even more.