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SpokenTruth said:

That's still piracy.  If the game is actively for sale by the rights holder and you acquire it without compensation, you've stolen it.

Gabe Newell says it very well:

"We think there is a fundamental misconception about piracy. Piracy is almost always a service problem and not a pricing problem, If a pirate offers a product anywhere in the world, 24 x 7, purchasable from the convenience of your personal computer, and the legal provider says the product is region-locked, will come to your country 3 months after the US release, and can only be purchased at a brick and mortar store, then the pirate's service is more valuable."

I emulate PS1 games for example, because I can't buy them on PS4. Silly Sony. But also as Gabe says, the pirates provide a better service then the companies. Nintendo charging $10 for an N64 game that still runs in SD is a joke, when you could play it on your Phone at 1080p.