It only takes one person to make one copy of a file, so until the level of deterrence is 100%, it doesn't matter much.
In the case of that individual, multiple companies suing for the cost of each book that he made available, plus legal fees, should be sufficientl.
Obscenely large fines (see the RIAA) don't work (to stop all pirates, they do deter an unquantifiable number). People still pirate stuff. Ignoring it doesn't 'work' in that you'll have X amount of lost sales. This being an unquantifiable number. Plus as a creator/coworker of creators/employee of said rights-holding company there's a level of irritation caused when you see something you worked on being distributed for free.
Internet taxation to distribute the money to 'those who get pirated' isn't going to work (see CD-Rs in Canada). Likewise excessive computer monitoring will just turn into a tech race between the pirate and the companies being paid by rights-holders to do so.
There's no easy solution on this one. And all those people saying 'companies should find a way round it' might as well say 'someone should invent cold fusion'.
What is certain, however, is that if a company finds someone who has willfully taken one of their products, stripped out the protection/identification and re-released it online for others to obtain for free, that company is legally and morally (IMO) justified in taking that individual to court.
The amount of the settlement/fine is up to the courts and law, which is a societal issue. Laws are often up to 20 years behind societal changes, however, so it could be a long time before judgements catch up.
One of the main issues, at present, with the model of fine=number of copyright violations (downloads) multiplied by cost/fixed amount is
that that really hasn't taken into account how one upload could lead to a million downloads. Well, the RIAA likes that number, but with fines associated with them getting more and more punitive it's likely to get a succesful challenge at some point in the US (and punishments are a lot less in other parts of the world, while still being high enough to deter).