That has not been shown to be the case. There is ample evidence that other companies would run this 'off market' or 'pirate' version, and zero evidence that if those choices had been unavailable that they would have legitimately licensed Windows.
You are making a variant on the 'piracy losses' argument which has been shown is simply a pricing issue. If you "ask" for more than your product is "valued" then it won't be purchased but it may be stolen. And if you make it "impossible" to steal you will reduce its value to legitimate customers and have zero gain in revenue from those who had stolen it before (they still won't buy it).
The "value" in Windows is the number of things that run on it and the fact that compatibility issues are "bugs" which get fixed by the supplier. We are rapidly reaching the point where it will add value to have an operating system for AMD64 hardware that is overtly governed (not Linux or FOSS) which allows you to get a copy of the source when you license it, and has an application binary interface (ABI) that other software developers can count on to exist, not change out from under them, and last for 10+ years.
As Microsoft (and Apple) add more and more spurious features which enrich themselves and enrage their users the "value" becomes less and less. That calculus will flip and when it does enterprises will switch to the new operating system that is just an operating system and not a malware delivery platform.