Fine when you're a small company, and your next sale depends on people seeing your videogame, rather than buying it. When you're a big company losing millions through piracy and you can't find a legitimate reason to fund your next game? Not so much.
A big budget Triple-A title will typically be budgeted at 15-20 million dollars, not including marketing and sales cost. If it doesn't make at least that much back off sales, why would the studio or publisher want to put another 20 million into a sequel? It might be the most popular game ever, every single person who owns a console might have a copy, but if it didn't make back 20 million because it was pirated, then none of that matters.
An indie game is considered extravagent if it costs more than perhaps 10,000, including marketing and sales costs. Not only does it have to sell less, cheaper, but the games are typically a labour of love rather than a finanicial concern, and so the developer will of course sink another few thousand into his sequel, because he believes it's a story that needs to be told.
So no, this is not the same as Activision saying 'we don't like pirates,' this is literally another ball game entirely. The big companies and the indie companies are so separated from each other it would be like comparing me making a web show on my computer with a webcam and it failing, and then saying that's just like how Green Lantern failed. They might both be largely pointless filmed experiences with an actor involved, but it's hardly the same.