I'm not too sure if it will. Majority of the people who pirate do so simple because they may not use it so often or they do not have sufficient funds to buy it. However, when for example, college students do get a copy of the crack and then they get used to using photoshop, and then when some of them grow up to work for a big firm, the big firm has no problem spending a few thousand on design software.
What I'm trying to say is that, even if they get 10x the sales with the copy of photoshop priced at $100, they will not make as much money as opposed to selling 1/10 copies at $1200.