Yes, and I blame bureaucracy for making it hard to say no to ineffective ideas. "You mean you want it to be easy for people to steal our content‽" I think the world has a hard problem saying no to ideas because they cost too much. Even if it has a minor effect it must be done!

But there is one real benefit of DRM, cracking it is illegal. Of course my understanding is that they would get the exact same legal protections here if they just XORed every byte with 0x42 so it doesn't justify the spend, user inconvenience and complexity of current DRM systems.