I suspect bad encryption still does exactly what they intend, because it means there is no simple one click solution built into an OS or browser to download streaming media for later watching or sharing with friends. For example, a lot of regular modern OSs have the ability to rip and share an unencrypted audio CD in a simple intuitive way with no shady pirate software to install.
It's a legal hurdle, not a technical one that prevents the 'above the board' software suppliers from adding this feature.
Pirates clearly are able to extract the 4K video and upload them to torrent sites, but the average media consumer would rather pay a netflix subscription fee that deal with the shady underworld of those sites with the virus installing and crypto mining popups, warning letters from your ISP, etc.
They've managed to make it hard enough that the number of people that do it is insignificant to their bottom line.
