When I started playing on P2Ps back in 2003, I thought if a studio REALLY wanted to stop downloads, they would actually hop in and supply dozens, even hundreds, of 'User IDs' that would send out corrupted files. Let downloaders spend their hours, days, weeks, months doing downloads, only to play them back and discover shabby video quality here or there, bad audio, skipped parts, etc.
Of course, there are actually few theft-losses in any industry that match embezzlement (insider) losses. In the retail world, "shoplifting" is a well-publicized crime but retail owners know employees and contractors are behind 90% of "stolen merchandise" claims.
And certainly in the RIAA (and probably the MPAA), no one is a bigger thief than the studio execs and their accounting systems.
I think the MPAA is doing it 100% wrong - they need to flood the on-line services with their movies. "And if you want to see a GREAT version of it, buy a ticket - go enjoy the big-screen experience instead of your 3-inch handheld." Or for many cowards, it's probably not even 3 inches.