Torrents are also used to distribute a lot of legal software.
ISPs who block transport indiscriminately (i.e., don't try to determine if the content is legal or not) would seem to risk lawsuits by interfering with transactions between businesses.
In a larger sense I'd sure be upset as a shareholder. This is expensive for the ISP and greatly risks all kinds of litigation and regulation. They ought to be charging RIAA/MPAA a fortune for it. Also, there's a strong risk to the revenue base if customers start opting for other ISPs - how am I as an ISP shareholder being compensated for this risk and expense?
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"If they can't picture me with a knife, forcing them to strip in an alley, I don't want any part of it. It's humiliating." - windsock