That seems out of balance.
When you consider that lots of miners are filthy rich, it's not that bad. The game economy actually does require miners to function, as ships an ammo aren't made with the scrap the fighters get. It's kind of a delicate balance, really. There are even some pirate factions that won't touch your mining barge as long as you don't interfere; they just want the cargo in your can or in your freighter.
I've run into some very organized, and friendly, pirate factions during my time in EVE. If only I could afford to play again... Le Sigh.
Yeah, though, the really good pirates are like all nice and stuff while they're taking your junk. It's kind of crazy, but when you realize that they make way more money and risk a lot less by just taking your stuff and leaving you alone, it's what makes EVE really unique. It's like seeing piracy made into a business.
Somewhere in a darkened room a Pirate CEO tents his hands dramatically, inhaling deeply from a cigar. "Make sure you don't damage the barges," he rumbles, "or I'll cut your nuts off." An adviser leans in, "Sir, is that really wise? They'll think us soft!" The CEO turns slightly, puffing a cloud of smoke into the adviser's face. "If we take the barges, then how are they going to fill another freighter for us to steal?"
I've actually heard tell of a really crazy group of pirates, too... They'll sit battleships on you in lowsec or nullsec and, for as long as they can, will force you to mine for them under the threat of podding you. They even warp scramble you so you can't get away until they're done with you.