There's a third, which is what was often mentioned by Netflix and others during discussions about EME on W3C lists: casual piracy, where people just download a

There's a third, which is what was often mentioned by Netflix and others during discussions about EME on W3C lists: casual piracy, where people just download a file and send it to a friend. It sounded like that was the sort of piracy that the studios were predominantly wanting to block (because they fundamentally don't think they can affect torrents, because they know that things will likely get broken)—the goal is to make it sufficiently hard that people won't do it trivially). Targeting stolen keys is, as far as I'm aware, mostly dealt with through key revocation and the law: I don't think anyone's ever really proposed a particularly technical solution to it.