What Ebaum did was claim the content as their own and act as a gateway to it, in effect making a buck off of the piracy of others. Since the original creator is no longer known, there's no way to provide compensation even if you want to.
Refusing to let someone get their files from a computer is more like stealing (though since the computer itself is rightfully owned by the new owners of ebaumsworld, it's certainly arguable that it's just rude, not stealing). A file is part of the computer it's on.
Your way makes the whole internet ... broken. anybody can ask for anything, but the guy in control of the resource does not have to honor the request.
I oversimplified because it is tiresome hearing the "But it's not stealing because you don't deprive them of anything" argument.
The initial bit... I think it would have regulated itself if somebody'd brought publicity to the people getting ripped off and made lawsuits a primary goal. I was always surprised Lowtax from Something Awful never thought it worth it to declare copyright on his Photoshop Phridays and sue Bauman until he stopped.
Dear lord, I think I just gave myself enough cognitive dissonance to stop using Bittorrent for hours.
But my point is that Bauman hasn't really repaid his debt to society. He's been shamed, and a lot of us are glad for that, but only by yet another corporate raider who will likely not redeem Ebaum's World the way College Humor redeemed itself after the IAC purchase.