For Big Media, this isn't about illegal downloads at all. In fact, as technically proficient people have been shouting at the tops of their lungs, this won't prevent (or even slow) copyright infringement at all.
What it will do, however, is make it almost impossible for new entries into media industries, small cottage industry businesses, and other market participants who don't have stables of dozens of lawyers at their beck and call to compete. As the power to publish becomes ever-more democratized, this class of market participants will increasingly be made up of content creators who would like to work independently, distributing directly to their fans rather than having to go through corporate behemoths operating on obsolete business models who take 94% of the creators' profits for serving no purpose at all; they are merely gatekeepers, exacting a toll for allowing entrance to the world of publishing and distribution, when the mechanisms of publishing and distribution are essentially free now.
Yes, it's all about monopoly. Even if you believe fervently in the importance of copyright itself (which is a monopoly by definition), this isn't about copyright -- it's about the monopoly power of major corporations, allowing them to coerce creators into giving up any rights to their own work in exchange for services they should be providing for themselves pretty much for free.
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