Home Taping Is Killing Music, or so they said in the 80's...
It's a nonsense, the progressive bands will adapt and move on (like radiohead, or even more recently The Charlatans), as they have always done, the dinosaurs will die. Bands no longer need record companies, and this is what is driving this nonsense, not protection of the muscian/ band.
However, perhaps more importantly is the potential to censore the internet and censore access to content. This time it's music, next will it be corporations or even the Government after indymedia or blogs/ boards it doesn't agree with? Like MCD v Boards.ie only on a bigger scale? It's a slippery slope if the record companies win...
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