The Institute for Prospective Technological Studies (IPTS), a scientific institute of the European Commission, released a report with a familiar message: illegal music downloads aren't a substitute for legal music downloads. While I believe this type of research is critical to debunk the outrageous claims about the economic harm abused to justify backward policy choices, I don't think economic impact alone is the entire story.
If someone broke into our home and did not take anything, only rummaged through our belongings (possibly taking pictures, etc), we would still feel violated. Integral to home ownership is the right to decide who can enter our homes, and our privacy and property rights are violated even if nothing was taken or damaged, and there was no economic impact.