> And wasted bandwidth isn't the real issue, unless the business in question's only expense is bandwidth.

Well then what's the issue? Bandwidth is the only thing I'm costing them really, the only difference between me going there and me not going there is bandwidth. If I legitimately couldn't use the site due to a pay-wall I wouldn't go there. Unless there's some secret way to make me pay for content that I'd only consume if it's free?