It doesn't do so much. Yet I have largely stopped pirating, legitimately buying whenever it is a feasible option.
As adults grow up, they generally are willing to part with their money to buy stuff. I was never going to play some of the video games I pirated at a $60 price point. But I was willing to try them at $5, and in some instances I found myself enjoying them. Prototype was a blast and I found the story to be surprisingly engaging (though I had admittedly very low expectations).