Personally, I think Hollywood, music companies, sports companies... entertainment in general makes too much money. They're not really contributing directly to the economy. Arguably, they're making the world counter-productive. I don't believe that they should be living in mansions, though for all their work, I don't believe they should be homeless either. I think guys like Toady One hit the mark on where an artist should be, just making enough to not have to do other things, being able to live comfortably, but not sitting in a mansion with his own private bowling alley.
The most common school of thought is that a job paying well will encourage the most competent. Not true. Ultra high paying jobs pull in scum and gold diggers. Mercenaries who do it for money and leave doing the bare minimum it takes to be highly paid. The guys who will kill and backstab anyone, including the artists and artisans who are bringing them money in the first place.
But having them too poor would discourage them... I mean, heck, when an actress can't make a living off acting, she goes into HR. When a programmer can't make a living off games, he does database stuff. And yet, they will think of living the dream, not quite being productive in society.
As a consumer, my best interest is that they sit somewhere around the middle ground, making just enough to keep making more games, movies, tv series, etc without making too much money that they get lazy and stupid and becoming Atari and Sony.
Worse still, the entertainment industry goes to hell with the free market. Making a bit of entertainment - a song, movie, game, book, whatever takes years of effort and creative work. Actually printing it costs less than cents. You don't have a solid expensive thing to sell, therefore, pirates can easily undercut your prices. This is why you need copyright. Trying to destroy copyright is stupid, they can't make a profit and won't work at all.
I support a little piracy, as it keeps corporations from going wild and setting games to whatever the hell price they want. $50 is already far too much for a game, IMO, but some people pay it, so eh. But I definitely support copyright as no entertainment industry could exist without it.
In regards to the whole thing, I'm happy seeing them both fight it out. It produces better entertainment.