A closer analogy - and still not exactly, since the owner would still have actually lost the car - would be if the police came and burned it down just so that you couldn't use it.
They're enforcing their copyright. Why not? The police can also confiscate computers with pirated software on them. They even do that sometimes. It doesn't return the money to the IP owners but it's still a way to deter theft.
It sounds like a good idea to me. Even if it doesn't recover their lost sales, it should prevent future black market copies since customers will know to avoid unofficial sellers.
It'd be like if you bought a brand new car from a dealership, then two weeks later the police came to your house, told you it was stolen and burnt it down.