This is exactly the same thing that happened with Napster and others.
It wasn't JUST the enforcement that caused music piracy to switch from widespread to niche, it was the ability to buy songs on iTunes, and more and more streaming options.
Normal people will jump to piracy when they can see they're being screwed. The music industry wouldn't adapt until people started pirating at a widespread pace, and then they did.
Sure, many people still pirate music, but a majority of people stream it, either by an ad-supported service or by paying for a subscription.
The same thing has finally happened with video. HBO is a good one to use as an example. Game of Thrones was only available with HBO on a pay-TV subscription. They added the ability to buy seasons online, but that was too expensive for a single show.
Then, they did HBO Now (again, Apple helped make that happen), and many people decided that the price was fair for the benefits it gave them, and far fewer people were torrenting it.
The lesson is that when corporations get too greedy, people work around them. They can still be plenty greedy, though, and as long as people feel they're getting a reasonably fair deal, they'll go legit.
Enforcement alone didn't kill TPB, businesses adapting caused fewer people to fight against the enforcement.