It doesn't mean it won't read your DVDs. Just that unless ya buy the Windows 8 Pro version and the Media Center add-on, the windows media player in Windows 8 won't have 'native' playback support for DVD movies. If ya have a DVD drive installed it'll still read the data, like your photo DVDs and such, so at least for the moment you're fine there. You'll just have to download and install a third-party DVD media player like VLC which, IMHO, is immensely better than WMP.
I'm kinda surprised by the news, as WMP has had DVD playback support since the stone ages (around Windows 95). But in a way, I'm really not.