They weren't filmed in HD, so you wont benefit from watching them on bluray. The NBA started a project to restore the archives from master recordings in 2006, but that project side-tracked a bit when the league refocused energy at acquiring all of the lost recordings. When SportsVision was rolled into SportsChannel in the late 90s, a lot of the archives were transfered back to the NBA. And the NBA released a handful of DVDs.
Some people think user shared content put a halt onto the project to restore the footage. I think the NBA is just waiting on backlogging their cloud league-pass VoD services, and may not release videos in real HD, just lossy-compressed oversampled HD videos online. We as fans would have to wait until the NBA's distribution contracts with Sports Illustrated and ESPN Classic expire allow them to establish this network.
The good news is you can still get the DVD's of key games throughout Jordan's career, and the quality is still better than what we saw aired on TV live.
Like Ultimate Jordan, Learning to Fly, Bulls Essentials, Dynasty Series, and Jordan to the Max.