When physical records were created, an industry naturally formed around them. The objective was to record good content, make copies and sell them. These copies were actually scarce. They had to be manufactured. Copying content wasn't trivial; you'd actually need to run a counterfeiting enterprise in order to do it. In that context, I'd even say copyright law sounded reasonable. It allowed the law to target and punish those counterfeiters.
Computers changed that. Now nearly everyone can suddenly become a criminal for downloading some music from sites as big as YouTube. What if 82% of a country's population engages in copyright infringement? I think it's a sign that these laws are out of touch with reality.
Instead of forcing everyone to pretend copies are still scarce, let the industry die instead. Let them go bankrupt. They should be forced to adapt by figuring out how to make money despite all the copying. If that means they'll make less money than before, then so be it.