The DRM is still completely broken. What they're doing is using some watermarking technology to match the video with a particular device and then ban the device. But then the pirates just buy a device, rip thousands of hours of video using it and then post them all together. Each device can get them everything in the entire catalog that they want because they don't have to post any of it until they've coped all of it and banning the device after the fact is too late. They can even sell the device before the key is banned (or to anyone who won't notice/care) and use the money to buy another one, and then the company is only banning the keys of innocent people who might have been paying customers.

And even that is assuming there is no way to remove the watermark, which there always is because multiple copies of the same video can't each be uniquely identifying without revealing what's different about them.

Meanwhile the inconvenience to paying customers is real when their stuff doesn't work, and every customer who pirates your stuff because the paid offering doesn't work for them is an actual lost sale.

It really does seem like the DRM vendors are taking them for a ride.