That’s an extremely definitive point of view. What if the lawyers agree to give the VPN provider 10% of the proceeds?
That being said, there are VPN providers who guarantee that no logs are kept (I believe ProtonVPN does this) and are extremely privacy-oriented. I am inclined to believe these companies, if all I'm doing is pirating a few movies.
Hosting providers that sell bandwidth to VPN services could easily log traffic.
There have been numerous cases where ‘No logs’ VPN providers have been caught logging details. See the recently exposed logstash breach.