Yeah right. They're hated because they look at the people ripping off their stuff and sites like ThePirateBay profiteering on their content and try to stomp on that sandcastle.
No, they are hated for doing the legal/moral equivalent of beating a child bloody for shoplifting a snickers bar. (And added to that, not taking especially good care that the child they happen to be punching is the one that actually took it).
Its not that they react to being ripped off, its that they react more like Los Zetas than law abiding shop-keepers when they do.
And also subverting the public domain (the Disney extensions) and trying to force everyone on the internet to do policing for them (SOPA). And pushing for much harsher IP laws both in scope and penalties.
TPB wouldn't have taken off on such a rapid trajectory if the MPAA and RIAA hadn't been so content to gouge the public in decades past.
Rabid public adoption of music and video piracy is most certainly a function of the public's perceptions re: price/value and anger at blatant collusion on the part of record labels to inflate prices.
Oh bullshit, most people couldn't give a flying fuck about that or they'd have boycotted the products before the internet came along. People like free stuff; it's not like they've been sending 1/10th of the money they saved on stuff they downloaded to the artists' fan clubs.