The dramatically expanded access to information and the positive benefits of this far outweighs the benefits of the profits to publishers (and the minuscule subset of those profits which filter down to the authors). It's not even in the same ballpark.
The standard deviation of author profits is massive. Don't trust their claim that most authors are hardly earning more than 20k a year as evidence that small time authors gets screwed over. The ones who earn that much are almost never targeted for piracy. Pirates go out of their way to minimize the impact that their actions have on small time authors. It's the same with video game piracy. It's the ones who are making hundreds of thousands a year who are going to lose out.
Make this library permanent for the good of society.