The specific analogy aside, the fact is that the U.S. government is basically saying that no matter who you are, or where you are, if you violate American law you'll be brought to American justice, even if they have to drag you to America against your will first. If any other country in the world did this, there would be complete public outrage.
From my point of view, American copyright and patent laws are very, very wrong. They largely miss their intended purposes. What's more, apparently even non-Americans on the other side of the world are at risk of being the target of these legal shenanigans.
I cannot stress how RIDICULOUS I think this whole affair is.
It's as if the prosecutors figure that Megaupload operates on the Internet, therefore it's operating in America and is subject to American law... is this another example of people who do not understand how the Internet works making major decisions about the Internet and it's future?