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Are you presuming these people get access to the material legally then just share it?
Believe it or not, some actually do, and those are the ones I'll be targetting with the current project. Sure, passwords can be hacked, cracked, guessed, phished or socially engineered, which is why I advocate a shift towards the Pay-per-clip business model...the password only exists for 24-48 hours, and even if it is cracked, they only get one clip rather than access to your entire content library.
As for the more hardcore hackers (ones who don't rely on passwords, per se), I have something else in mind, but I'm still exploring the technological feasibility of it.
I think your going after a very small target here as it will only force this group to get the material from more seasoned and skilled individuals. Your plan sounds like it can work "in theory" but I don't know about the real world.
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I hit her with the hammer on top of the head. She made a lot of noise and kept on making noise, so I hit her again.