Older people - of which I am one, are accustomed to being able to share books. Book clubs, used book stores, sharing your favorite new read with a friend is part of the culture. The notion that you pay once and can never share with someone - yet pay close to the same price as paper - is both insulting and greedy.
You haven't priced ebooks lately. Most of them are considerably more expensive than having a physical copy shipped to you. Take for instance the classic 1984. A paperback copy can be bought brand new including shipping for $6.51. On Kindle, it is 50% more, at $9.99. I love my Kindle, but I refuse to pay the premium price that publishers are charging for the books. On books that are priced this way, I'll either borrow a copy from the library or pirate it.