Good on some points, bad on others
As others have pointed out, the "copyright infringement == theft" is a fallacy is most frowned upon by those who know the difference. It ain't the same, precisely because of the points that have been stated here, like the fallacy of assuming "$1 pirated copy == $1 lost sale". In the software world, this ratio is even higher than in the music/movie industry, as you can't just get an "open-source Metallica" song but software is mostly replaceable.
Open sourcey stuff would gain the upper hand if piracy were to dissappear, so I wonder if that is the main reason for which Windows is still crackable. Specialized software like AutoCAD is pretty hard to crack, and some stuff even uses physical dongles as a hardware piracy prevention device. But Windows? Anyone can get a cracked copy of the latest Windows & Office without much tech skills, so the Linux vs. Windows arguments will usually fall out because "geeze, Windows is free d00d!" While piracy might fall on other types of software, me thinks that OS-related piracy will remain being high, if only to keep the MS monopoly in its place.