good point.
It's still nothing though. Studios and the government delay blu Ray release of films so they can be shown in the cinema first. Piracy is the cost of that model.
Again, I'm not saying it's right, but I also think technology means people are going to do it. However I do also think that generally people do want to legally watch content, it just has to be timely, accessible and fairly priced.
Obviously this is all subjective, but:
The boxing was timely. Having to go to a pub or a mates or have sky yourself (or use igloo? Which I'm sure nobody really knows about, plus you need an igloo box first I believe) isn't very accessible (like going to a cinema isn't accessible for some), and $50 IS overpriced.
A cinema often isn't timely, they delay some kids films a couple months at times for the school holidays, and occasionally blockbusters so they don't clash with others. It isn't all that accessible for a lot as explained above, and the price has been increasing every year, it's up to $16-17 for a single ticket - which adds up when taking a family.
Clearly this model is more profitable than any other model, even when you factor the inevitable piracy into the equation - so they do it.
Also, Reading Cinema dropped their price to $10 in the last week and have been selling cinemas out as a result.