DRM works in practice. Most users end up not side-loading things on their phones or playing homebrew on their consoles, even though it's theoretically possible.
Because piracy is not a problem of price, but problem of convenience.
If I can buy an album DRM-Free for a good price, I'd buy it. Same for books, games, or anything digital.
If I can make personal copies by stripping the DRM without quality reduction, that works too.
People producing these things pour blood sweat and tears into these things, and they have bills to pay. They deserve to get compensated for what they do.
I started with music, let me end with one example. An amateur symphony orchestra needs to give 14 full weekends for a 2 hour concert. That thing is hard.
It is very much a problem of convenience. I paid for the Sims 4. It required me to use the EA launcher, which wasn't only slow, it was buggy and crashed constantly. So I pirated the game and played that way instead, despite having access to a legal copy. No launchers, no account sign in, no ads. Plenty of other people happily cut out the middle man and go straight to piracy.
Even piracy is way down, to my dismay.