Well, not to put too fine a point on it, but it doesn't seem to be working.
Whilst the "content-cartels" occasionally ruin the odd-person's life, hundreds of millions, if not a billion, people continue to share files, every second of every day. Young whippersnappers under 30 don't even *get* what the fuss is about (or why we even *share* (or own) music files when there's spotify, grooveshark, pandora...)
And I do think it's tragic, and despicable, that even one person is ruined by the various aa's and their/our bought-and-paid-for politicians/legislatures.
Ultimately, the few sporadic *gains* by the bad guys pale in comparison to the sheer number of those who don't feel threatened. Or who rightly believe it's an amoral issue unworthy of their attention.
It's not unlike weed use. Are the anti-weed folks winning? Sooner or later (measured in decades...) common sense does indeed prevail.
A lot of us may not live long enough to experience it, though.