The larger point is that a publisher who puts out a mediocre game, at a higher price, and DRMed to oblivion will suffer a high piracy rate as well.
The piracy rate only matters when it comes to the few who could and would pay for the game given no other option (similar to those from Speederlander's example: they pirated the game and enjoyed it, didn't pay for it, but would if they had no other way of getting the game).
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