I get the point, but I live in Belgium, where the "private copy" law allows me to rip my rentals (and even to go to the library and copy-with my own hardware only-any books/CD/DVD I want) - as long as it is to be used in a "familly environment". So I was a bit surprised by the whole point of getting caught...
The way it's done here, if you rent something, the price you pay includes 1. The rental of the pysical object 2. the fee to pay the author. Since you paid the fee to the author, you might not be allowed to keep the physical media you rented, but you paid the "licence" to the work... And there's a tax on USB/SD Card/HDD which compensates, once again, the authors since those devices are (as worded in the law) "purposedly made to copy IP works". So, we're allowed to copy. But not to distribute.