You can certainly argue second-order effects (ie. we have to restrict information to save information), but the movie studios were making that same argument at the time:

> If copyright can no longer protect the distribution of the work they produce, who will invest immense sums to create films or any other creative material of the kind we now take for granted? Do the thieves really expect new music and movies to continue pouring forth if the artists and companies behind them are not paid for their work?

--Jack Valenti, Motion Picture Association of America, 2000 (https://archive.is/PBy7C)

It sounds remarkably similar to what people concerned about AI say today. How do we make sure that artists get paid?

I don't think many hackers found the argument compelling at the time.