"the bits created by media companies"
They don't. Media companies don't write songs, neither they're really shoot movies. They are the middlemen.
Yes, I think that my bits are more valuable than the vapor created by middlemen.
But there's more important issue: Once I have 100000 books, 1000000 songs and 10000 movies on my hard drives, I might lose desire to have any of their bits at all.
I don't even need them produced because the bits already there are just as fine.
There are a lot of super smart guys working day and night to create movies, and they're solving a lot of hard technical challenges and applying many decades of experience in what makes a production entertaining.
While I dont watch a lot of TV or see a lot of movies, I certainly respect the impressive work that goes into them.
Yes, I think that my bits are more valuable than the vapor created by middlemen.
But there's more important issue: Once I have 100000 books, 1000000 songs and 10000 movies on my hard drives, I might lose desire to have any of their bits at all. I don't even need them produced because the bits already there are just as fine.