Imagine what would have happened if they would have embraced Shawn Fanning and Napster. What if they made Napster a pay service, charged everyone .25 cents a song (no DRM and various bitrates to choose from) for the entire RIAA catalog with no DRM. IMHO, music copyright infringement wouldn't be a big issue. Instead, they fought it tooth and nail.
Absolutely. The RIAA not only missed that gravy train, but derailed it permanently.