Yeah, absolutely this. There's a bias towards the low end of the skill/intelligence curve as those guys get caught doing really stupid shit and end up in the news as a result.
I was looking over Wikipedia articles on software piracy groups of the 1980s/90s the other day and it was really interesting how many of them died to either a blatantly stupid move on the part of one of their members/leadership resulting in the whole group dropping like dominoes, or a political split when the leadership could not agree on policy (especially during a leadership changeover)
It was particularly interesting to see at least one major group collapse due to leadership getting nailed on phreaking charges, which spilled over to the entire group getting nabbed on the piracy.
A few of the brightest in the scene got out when they found an opportune time, then disappeared. At least one or two of them are CEOs in big business, if the articles are to be believed. I bet one or more are reading this now, even!