I'm not sure. It seems like the harder they squeeze, the less they can hold onto. Books, movies, TV shows, audiobooks, music - you can find it all online for free and acquire it pretty safely (torrents/vpn etc). I think the only thing they can really sell us is convenience - and I buy it! But if that convenience is lost to fragmentation, or lack of offline availability (e.g., books), or price, I think people will stop paying and do the more convenient thing. There's a tension there that I don't think they can ignore.

Beware of believing everything is available over torrents: They’re probably hosting, waiting for every library to dwindle, so one day they will close the tap. There are already very few websites that index torrents. It’s a classing monopoly-then-disappear, Google-Reader-then-no-RSS situation.