At first I sided with the RIAA and the MPAA figuring it was reasonable to let them keep the old model alive long enough to stand up new services and technologies that can compete with bittorrent. But instead of doing that, they are apparently just planning on never modernizing their offering and trying to rely on the law to force people to use an outdated system indefinitely.
If they got their act together and stood up an internet based system that had nearly as much content as bittorrent has that charged a fixed monthly fee for all you can watch and charged say $60 a month or something, they would beat bittorrent out of the market in no time. Heck, they could almost certainly be making more money by doing it. They just need to get off their asses and do it, and at this point I think they've used up the window where the law can justifiably force people to use outdated technologies for their profit. If they set up something like that and then they wanted to crack down on people who used bittorrent, that would be fine with me, but using the law to hold back technological progress is a bad path. A well tuned law pushes us forwards, it doesn't hold us back.