I think trying to argue that nobody is loosing out, because you wouldn't have bought it, or gone to see it in the cinema is silly.
Firstly, the fact that you downloaded it, suggests you at least had enough interest to want to see/listen to it anyway. If it really didn't interest you enough to warrant paying for it, you wouldn't have obtained it illegally.
There are plenty of places you can read and see reviews for things like films and games these days, so the argument that "I wouldn't have gone to see it in the cinema, because it's not worth it" doesn't wash with me, if you then go and get it illegally.
Finally, while you can say that you wouldn't have paid for it anyway, that's your opinion. For everyone of you, there may be 10 other people who said "I'd like to see that, but I'll do so for free".