While I'm all for punishing the people who are allowing copyright infringement, I've got to say I'm not sure I like the precedent that this is setting. Megaupload wasn't used just to pirate, it was also used to transfer legit files. So what's next? WeTransfer? Because they're not monitoring every transfer made? Or how DropBox, Flicker, or whatnot?
I still think that the music, movie, and publishing industry needs to get with the times and realize that they're never going to stamp out pirating. And, because of the copyright squabbles that makes it so a movie released in the US comes 3 months after to the EU (yup, in this digital age, we still get movies 3-4 months after the US release) or that we can pay a nominal fee and watch TV shows at the same time as our US counterparts instead of having to wait 6 months to a year or more for it...THEN I think the need for downloading stolen materiel will be a hell of a lot less.
Will people still download it for free? Yup. Will it solve the problems of the porn industry? Nope. But I think it will make it so there's LESS players on the field.
But that's just my opinion on the matter and I really, really hope this particular event doesn't strengthen SOPA and PIPA because those bills are down right frightening.