First of all let me just say that I'm not really trying to say piracy is completely justified, but rather that piracy doesn't necessarily take much away from the artists. In fact it actually technically contributes to the artist, just not as much as legitimately buying the album would. Out of 100 people who pirate an album, probably no more than 10 might have actually bought it otherwise. However, out of those 100 people, probably around 60-90 will be or will become fans, and a fanbase is the most valuable thing you can have in any type of media industry. Even if they don't buy the album, they become potential sales for merch and concert tickets. They may recommend the band to a friend, go to the band's website, or look up the band on youtube giving the band ad revenue and upping its relevancy on the search bar. Hell, maybe when they pirated the albums they had never heard of the band, and now that they're fans they won't mind spending the 10 bucks on the next one.
Also let's say hypothetically somebody has hundreds of artists they like and doesn't have thousands of dollars to spend on music. I would hope they would at least have the common decency to buy at one of the band's albums legitimately, but an entire discography (especially from a band that's been around for a while) can cost a lot, and with diverse enough musical taste, having everything you want would literally cost you a fortune. In this case, I think piracy is something the industry can handle. Someone who's bought 50 albums and pirated 100 has given far more to the industry than somebody who's bought 5 albums and pirated none.