Pirated DVDs are too low-quality for me to bother spending money on. If I like a movie enough to own it, then I want the real thing. (Besides, the MPAA would have us believe that buying pirated DVDs supports terrorism - I dunno, but I'm sure most of the sellers engage in other criminal enterprises.)
One thing we need pirated DVDs for is the hilarious covers and subtitles, though. When those make their way onto the internet, it's always good for a laugh.
I don't morally object to piracy because of the studios, who are getting enough money already without passing it along to the artists. I think that piracy (mostly internet piracy) has led to DVDs being pimped out with all those extra features to keep people buying. The companies should be courting our favor rather than counting on us to blindly spend money on their products, so in that way, we've all benefited.
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