It matters because the economic argument is the only marginally justifiable motivation for the heavy handed enforcement of copyright over civil rights. And I'm being very generous in using the word "justifiable".
> People pirate media because they don't want to pay for it.
People pirate media because they understand they shouldn't have to pay for it. We pay for services rendered (Netflix) or goods delivered (DVD's). Everything else is either tax or extortion.
You know, passive phrases like "owning the rights" are so insidiously misleading. Nobody "owns rights", all that actually happens is that the rights of others get limited. That's how this convoluted artificial construct works.
No, I'm not denying that that leaves us with the original problem of stimulating the creation and distribution of original work.
But millions have woken up from the shared illusion of copyright, and no amount of enforcement, DRM or just incessantly repeating the words "stealing", "pirate" etcetera is going to put them back to sleep.