"No IP" does not mean "You can't charge for things." Enough people would rather go to a movie theater than get on Bittorrent that he made his money back.
Side note: I was one of those people. I wear Pirate Bay tshirts around, I'd throw out all IP law if I was in charge... but I did pay money to go to the theater to see Avatar. Going to the theater and getting that crazy huge screen, great sound system, and (maybe) the 3D was totally worth it.