To me, this is like saying, if the entertainment industry don't get their way, they may wreck the educational system.
Imagine how much better the US would be without the two organisations. Sure, they will think that without them, there will not be any movies or music being produced due to piracy. But, there are plenty of other ways to profit from either even in the world of P2P. E.g. a performing musician could use P2P and the radio to promote its music and make money through public performances and concerts. A movie producer could make plenty from cinema sales with the movie later freely released to the public. Also, it's worth noting that musicians and movie producers existed well before the time of VHS, tapes, CDs, etc. mainly by public performances and cinemas.