Anyone with ounce of motivation can easily bypass and extract the media content, so the only thing DRM does is piss of paying users which can't watch content on flaky connections, flights, travel and alternative operating systems.
Meanwhile on torrent sites you find Netflix digital dumps in matter of minutes after release.
This is obviously untrue. For at least 95% of Netflix users this is inconceivably difficult. Peek out your bubble and you may also notice that torrent use is massively declining in popularity because they're a horrible user experience.
The people that use Popcorn Time/etc would disagree. That has been a fantastic experience, so it's natural that the MPAA would go after it tooth & nail.
An important use for DRM in regards to streaming services is to prevent people on shared networks from getting access to the data. For instance, if I was in a college dorm with dorm-wide wifi, and I was watching my de-DRM'd Netflix, anyone on the dorm intranet could snoop my packets and get the data being transmitted to me by Netflix, for free.
That is nigh on impossible to do when the content is encrypted with DRM.
It was always passing the legal buck ("It wasn't us that let those evil evil pirates steal your series, we did all we could, look at that DRM software certificate!").
Snooping packets in dorm rooms? No.