Not sure if you are correct in the "Piracy has not dented the profits of big movie in any significant way" , but you are definitely correct about archaic distribution.
Here in oz you cannot buy the latest Game of Thrones episodes at any price (or so I'm told). So the only way to access them is to download a copy from somewhere.
I'll wager that if they were available to purchase (download) on release, in higher quality then there would be a market.
I don't download copyrighted stuff, but I have no sympathy for the companies that are effectively hobbling their own market.