But why would reducing piracy be a good thing? Because the RIAA and MPAA lobbies are claiming trillions of dollars in imaginary losses? How can they be reporting record profits at the same time?

The fact is, piracy has been reduced to an emotional issue, where the beneficiaries of these laws claim ridiculous losses and lobby legislators for more regulations to "save the starving artists". SOPA, PIPA, ProIP, the DMCA and every other copyright law of recent years were flawed from the get-go, as they were based on shaky, emotional assumptions, not evidence of a real problem. But heck, I'm still waiting for evidence that the copyright monopoly itself is a net positive to society, let alone its various overreaching extensions.