No, it's not noisy. The 360 and PS3's were both noisy bits of kit. But the PS4 and Xbox One are not. They are both quieter than the noise that comes from a spinning disc. And that is the problem with ANY BR player.
I have both, as well as a couple stand alone BR players. And when streaming movies (like you, from ripped BR's) they are all as quiet as each other to be fair, maybe a very slight increase in fan noise from the consoles, but only audible when the sound is completely muted, from our seating positions anyway. And when playing BR's, the spinning disc is always the noisiest component in the system.
Having both current gen consoles, as well as regular BR players, I would recommend the xbox one as the best overall solution. It plays everything I throw at it, has a decent app store for other on demand services, is quiet, and will play games (Halo for example). The PS4 is ok, but not as good a media player. And the xbox One has a really nice little remote control.
More expensive than the £150 budget set out mind you. But I wouldn't pay that money for a straight up BR player. For that I would only pay a max of £100. And even then, my £100 Onkyo BR player hasn't been used since I bought the xbox.