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I believe it is always morally wrong to steal, overpriced or not. That being said, I believe people would be much more likely to pay for media content if it was more reasonably priced and easily accessible in digital format.
It is frustrating to buy an ebook that cost the same or more than the physical copy. I usually just end up not buying it... and no one wins.
Going back to what BG said about the cost of physical media production.
Media is not really a tangible product to begin with. The tangible product is a delivery system. Books, CDs, DVDs, etc are systems of distribution that allow the exchange of data from the creator to the consumer. The delivery of this data is a small portion of the total cost.
When the delivery system is free/paid to another provider(internet) it is easy for people to forget(willfully or not) that the product is what their eyes see and ears hear.
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