I expect they don't look at it that way
If you were to draw a graph of gamers with 100% pirates on the left and 100% customers on the right that most people would fall some way away from these extremes. The 100% pirates, the lamers obviously would never buy a game, but as you go across to the right the inclination to buy increases. As a publisher, the idea is to move the inclination bar left and scoop up a lot more sales.
Ways to do that might include:
* DRM
* Serial codes for online play
* Frequent patches that add new content, features.
* Cheaper store prices
* Collectible stuff in the box
* Trial versions which can be unlocked with the purchase of a key
... and meanwhile ...
* Prosecute pirates
* Release glitched, broken / buggy versions into p2p channels to frustrate people who spend days downloading 9GB games for them to not even work.
I suppose Ubisoft's "big idea" is to ignore the other ways they could incentivize people to buy and squeeze on the DRM as hard as they can. But DRM is a slippery thing - try to grasp customers too tight and they pop right out of your fingers.
To me a game which is crippled and does not work on a plane, or a train, or on holiday is a game I don't want to own. I can understand multiplayer not working, but the entire game? Why the hell do I want to bother with that? If anything it wants me to seek out the pirate copy even more than I would have before.
So I think Ubisoft are being monumentally stupid here. It's not like there are many Ubisoft games worth owning to begin with and this sort of crap is hardly going to help their bottom line.