I agree with Gabe Newell's take, however it absolutely is _also_ a money issue (which Steam went a long way to alleviating with regional pricing). Median PPP ratios for other continents are: Asia ~2.76x, Africa ~2.76x, Europe ~1.58x, etc.

Currently new AAA titles debut for 60 to 80 USD. I'm wondering what the piracy situation would look like in the USA, if this was, say 160 to 220 USD; because that is what paying US prices feels like to the median person.