... sort of. Its also possible to reach an equilibrium in which the current business model is used, the general reticience people hold towards violating the law combined with the occasional high profile lawsuit against infringers operates to keep infringement at a manageable level, and things just keep on grinding along.Fundamentally, the business model has to change. Companies have to recognise that their products will be made available online, and will be appropriated by people for what those people think is a reasonable price. They also have to recognise that some piracy is inevitable, so they'd be better placed making some money from the online offering, but accepting some online wastage. Oh, and finally, they're going to have to recognise that their products lose their value very quickly - if they can't recoup their investments within a couple of months, they're probably never going to do so.
That leads to certain inequities- there is a certain unfairness to a system in which everyone engages in low grade piracy and people who rise above a certain unwritten level are occasionally subjected to significant penalties that are perhaps proportionate to the offense but not to the margin of the difference between the prosecuted and unprosecuted offenses.
But we have a lot of systems like that, and its rare that anything is ever done about them.