Under that legal framework, how does Stephen King make money selling his book? I see an enormous race to the bottom in terms of prices, especially with ebooks. The official ebook comes out and within minutes it can and will be sold for less elsewhere. Given the triviality of duplication, it'll be essentially free, soon. I'm certainly not buying the official one if I can get it for 10% the price - and I think that's being generous.

Paper books actually cost money to print, so people who love the paper book experience will likely be the only ones buying books. I strongly suspect the ratio of those purchasers to those who consume ebooks is steadily decreasing. And if ebooks race to the bottom as I have no doubt they would, I suspect that ratio would drop even more.