I think the fundamental issue is that the DMCA and DRM allows the "industry" to write their own laws.
With the DMCA and the anti-circumvention provisions, the restriction code has the power of law - circumventing it is illegal.
So they can ignore whatever fair use privilege we used to enjoy, because fair use privileges aren't guaranteed rights: if you can't make use of it for whatever reason - tough; they're not required to provide you with tools or systems to give you what you want, even if it could be legal.
So this all boils down to the fact that we've lost all fair use in copyright law (maybe not in theory, but definitely in practice), and as such, copyright has become completely unbalanced in favour of the copyright owners.
The tradeoff was: a temporary monopoly on distribution with some fair use exceptions, in return for a rich public domain later on.
Not only have we lost fair use, we've also lost the public domain part later on. Because the DRM on copyrighted works that end up in the public domain isn't going to magically disappear.
All we're left with is "a monopoly on distribution" - that's not what copyright was supposed to be.