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Back in the days, console games were on custom cartridges, and as such hard to pirate, but PC and consoles like the PS1 had CDs, so piracy took a cheap hardware modification at most. Though pirates would go as far as mass producing fake consoles and sell ripped games for them, especially for nintendo consoles. It's fascinating.
DRM isn't all that painful to the end-user nowadays, Steam even automates product keys and the likes for you.
You can beat pirate mode without ever including DRM into your products. Just make better games and do it more often.
It depends on the DRM that you are including with your game. I consider most DRM to be malware because it usually negatively impacts performance or privacy of my computer system. However when a product is offered in a manner that is convenient, correctly priced, and not treating customers like criminals people tend to obtain things in a legal manner. So even a little DRM can help (like Steam, Spotify, Netflix) but it all too easily can start to hurt consumers and/or profits (Denuvo!!!).
No DRM means you lose over 80% of your profits, in which case the games do not even properly cover their developement + time cost in my experience. To me, it's a race for getting the first share sellout offer so I can afford Copy Protection V1 and start actually making money off my products.
The 80% doesn't stay the entire game. As you get more fans the pirated amount goes down too.