pffft. Yeah right! Minor setback if anything at all.
I'm not so sure. There has been an especially concerted effort the last few months to nail those involved and put and end to TPB. They got most of their sister sites a few weeks back, and they have all remained offline since. And they have struck at the heart of TPB this time around from what I have read. I highly doubt Peter Sunde is particularly keen to find himself behind bars again, having just been released, and it appears as if their VPS backup plan hasn't worked correctly either, and the 8 hour deadline has now passed, meaning the VPS backups are now also dead. No doubt there exists another small army out there dedicated to getting them back online and who have been preparing for such an event, but they're pretty leaderless and one would expect, reluctant at the same time with the heat so hot and the series of massive crackdowns on them in recent weeks, which I might add, have been executed with rather deft precision and efficiency.
This of course won't put a dent in torrent traffic in the greater scheme of things, but it is a fairly significant blow to what one could consider now an industry, at least in terms of the principle of enforcement against it. I personally believe that torrents are an incredibly efficient manner in which one can legally distribute content and has various commercial opportunities if it was simply accepted that people are willing to pay for content, if 1) making such payment was easier; 2) distribution was as efficient as it is via illicit channels; 3) distribution models stop looking to enforce bundled content at every turn; and 4) decentralised content management was enforced rather than enforcing the protection of centralised content distributors.
As an ISP, I will say it, torrents suck, as they demand a massive number of simultaneous concurrent connections being opened and can slow down your core network, especially once you are routing thousands of fibre connections concurrently, each trying to open thousands upon thousands of connections at a time. But I am also a consumer of content, and I see the benefits of the technology. If however I had a choice, I'd choose streaming over torrenting any day of the week. Let the data storage be someone else's issue; let the scraping of data be someone else's issue; let the software updating be someone else's issue. I much prefer to switch on a device, and watch what I feel like from someone else's servers (or my own

) and at the same time financially support the teams responsible for making the content. When it comes to television and movies, it's one where I don't believe that "try before you buy" necessarily applies. There are only a few movies one will ever watch more than once. The argument that one didn't enjoy the content also doesn't apply, as you are applying a subjective qualifier for payment when the obligation for payment has nothing to do with a ratings measure and everything to do with consumption (and the limited rights to it afforded by the copyright owner), which one cannot argue did not take place, in order to hold such an opinion to begin with.
I also don't believe that piracy is theft. It is copyright infringement, on condition that the law of the applicable jurisdiction of the accused "infringing party" apply to such digital content.
^^The above is my personal opinion, and not the views of the company I represent^^