This would be less of a problem...
If there was a convenient way for people to get hold of older content, and also if lower prices were charged.
Ok, I may be guilty of downloading a thing or two, but its usually stff I can't find due to being old. Have downloaded the odd new release too, but only once have I watched a new dl film that I thought would have been worth the rental price.
If ther were a online service where I could rent an old film for around £1, or a new release for around £2, which would allow me to stream to my 360, I would be over the moon.
Put these measures in place and I may stop downloading, but I am not likely to start renting more. I will simply take up reading more again.