Cracking HDCP would probably be one of the most inefficient ways of backing up your whatever happens to travel over HDMI: the protocol is for encrypting the uncompressed data streams, which are *huge* (current HDMI max bandwidth is 10.2Gbit/s though 1080p + 7ch audio uses less than that but it's still multiple gigabits/s).
And it's not like there hasn't been any HD material on the pirate networks before...
I don't really understand why the hell HDCP was ever taken into use; it causes a ton of problems due to subtle implementation differences and even specification issues (my brother does big AV-system installations [well, programming for the control touchscreen controllers etc] and HDCP causes them no end of headaches) and the protection value is questionable at best since capturing the raw uncompressed bitstreams wasn't even close to practicality back when the protocol was designed. Sure HW will get better, so "it's for the future" is a valid argument, however attacks too will get better and now we have a total break and nothing but trouble and expense to show for it.
Of course the trouble and most of the expense is externalized to us, the customers, so maybe it was a good deal to those that wanted to temporarily block a totally unpractical approach to copying the content.
"anybody" (with sufficient resources for HW design and manufacture) can now create source or sink device, which is nice but doesn't yet solve the most problems HDCP causes on practical level (not all compliant devices like to talk to each other, my old DVD player [with DVI output, high-end device back in the day] crashed every time I tried to connect it to my new projector, either directly or through my amp which has repeater) for those HDCP would have to be turned off. OTOH for the problems of the big-AV-setups (think monitor matrices etc) now a HW solution can be made, need to route picture to multiple monitors or do PiP ? All but impossible before because it was not possible to do decrypt->mix->re-encrypt (according to specs repeaters have to be dumb AFAIUnderstand)