I will have to disagree. Not that I think that the people in charge of the MPAA and co. are altruistic, nice people. But I don't think they act the way they act because they are looking for immediate profit, or rather this is not the principal reason.
There was an excellent comment on HN a month or so ago (during the SOPA madness, I can't find it though) from a guy from the industry that explained that the main problem was "ignorance and misunderstanding". And this echos what the OP explained so well: the MPAA think they are right, and don't understand why people are downloading illegally (they most likely think it's just about money).