The way I see it, putting aside the main argument here, ah ok, I'll go there...
Piracy might be theft, but I think we can all agree it's at least wrong and criminal. I'll make exceptions for stuff that can't be bought new, as I don't believe paying $150 for a manky old Secret of Mana SNES cartridge on Ebay is a fair deal.
Anyway, What ACTA fails to take into consideration is that a vast number of pirates are also their biggest customers. Yes, many pirates also buy stuff. Block them from the internet, and you're just locking them and their wallets out of your stores, here's your medal, now go have a lay down.
It's shame that, just as we can't really tell how much the industry loses thru piracy in terms of actual sales lost, we can't tell how much pirates actually buy.
I'm going to put aside morality and law here for a moment.
You've got some guy , he's got $100 to spare each month on entertainment, he buys a new game, goes to the cinema and buys a couple of movies on bluray. Then over the course of the month downloads other games and movies. Some of which he likes so much he puts on his list for next month because he wants to keep them, or if not, he'll go out and get another $100 of new stuff.
He's breaking the law, sure, but blocking his internet access will just block him from buying stuff online. The way I see he's not losing anyone any money in real terms, but he will be if they block him from all his favourite stores.
Also in short, innocent until proven guilty should NEVER be cast aside just because the accusers have a massive amount of money. (makes me wonder how they can afford to bribe this bill into place, when they're all so poverty stricken by the evil pirates?)