I agree with you there - all HD video DRM is "deadbolted door, window left open" at this point since HDCP is fully opened (both by the ability to clone or purchase the HDCP hardware from a real TV and by the leaking of the HDCP master keys).

There's still some incentive to crack video DRM, since ripping through HDMI requires a re-encode and degrades quality, but the approach is good enough that the payoff is reduced substantially.