In the past, it was legitimate. Don't copy media, sell it as theirs (as counterfeiting is truly theft.) However, as time has gone on, the bar for IP infringement has gone so low, that with the TTIP, some guy dressing up as Spiderman for a local comic convention can be hit with a six digit fine or prison term. Couple this with the Draconian technological enforcement (more than four people in front of an XBox, movie shuts off), and the spirit of the law has been destroyed. In the past, it was a copyright monopoly for "x" time, then it becomes public domain, for all to use.
The problem is that with extreme punishments (hundreds of millions of dollars for a few MP3 files), people start to have less respect for laws in general, and this not just affects IP law, but law and order as a gestalt.
In the early 2000s, had the RIAA not used heavy handed tactics, but went with tactics that MADD has used to sway public opinion, making the concept of copying MP3s for someone as odious as hitting the road after seven longnecks, things likely would be a lot different.