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Netflix: Piracy is Difficult to Compete Against and Growing Rapidly
(torrentfreak.com)
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What legislation? Piracy was never legal to begin with.
In my country, while it is illegal to download or to share pirated content, our law enforcement really only goes after the big fish doing the sharing. Sites may go down, but as an end user, my only real risk is getting a DMCA notice from my ISP if I'm sharing data (seeding torrents) while not using a VPN, and possibly having my service disconnected if I continue. While technically I could be in trouble with the law, it is not really a fear in my country to be a downloader of pirated media.
Stronger legislation could mean laws that entice law enforcement to act on smaller uploaders or even downloaders.