I think piracy works in mysterious ways. Photoshop wouldn't be anywhere near as popular today if it hadn't been pirated in the past. All the rampant pirating of that particular app made for a whole generation who grew up using it and who will often pay for it when going on to a professional career. The same applies to apps such as Windows, Maya, Word, etc.
You could also flip that perspective on its head and say that they only got pirated so much precisely because they were good apps. That it was inevitable.
What people forget is that even though some consumers may be able to afford a nice gaming rig, sometimes that's the limit of their funds. Not every gamer has a nice steady income, and some of those who do have a nice income, choose to prioritize their funds on other things.
Even if games were completely uncrackable, the increase in sales across the board would be very modest. Someone who consumes a lot of games every month through piracy might simply scale back to a few must-have titles. Then spend the rest of their time on something else.
On the positive side, people who pirate games often contribute indirectly by talking about them online, creating more buzz, life, etc. If a game doesn't have a lot of buzz, but is still good, piracy can even help promote it - as witnessed by Minecraft.
I think instead of trying to combat piracy, companies should look into value adding their games and communities and perhaps reach out to consumers much more than they do today. Bring them on board and behind the scenes. I don't know of any major game studio that does this today. How games come into being is still hidden behind NDAs and veils of silence. Some companies may feel this helps them against their competition (really?), but I wager that an open approach would get a lot more community support and involvement.
Companies could also be more upfront about the economics of their games. For example. After having released Dragon Age 1, what if Bioware put up a sales counter on their website and put it bluntly: We need to reach X amount of sales before we can move ahead full steam with Dragon Age 2.
Couple that approach with a continued look into their production pipeline, and suddenly you have a brand new way of advertising their game. A lot of fans would love to follow a game from start to finish and it would create huge amounts of buzz all on its own. Much more than a few pieces of concept art and an occasional game-play trailer does.
One company that's doing this a little bit is Crate Entertainment with Grim Dawn. They speak openly about their development on their forums and engage the community. It's certain that their game will be pirated - but the game will also sell and have an initial momentum, especially thanks to the crowd which has been following its development and contributed by interacting with the devs. People love developers who care enough to listen to them.
TL

R There IS money out there, lots of it and people buy games all the time. Piracy seems bad, but in reality it doesn't matter all that much. What drives sales are good games from good developers who care about their costumers.
Honey works better than vinegar.