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There is nothing inherently wrong with DRM. Until we can create physical objects from a printer (This is happening) then the physical world is safe for the most part for the content owners.
The problem lies in fair use and type of ownership. If I can't freely move my copy from one device to another and create a backup. Then I am mad. If I can't choose which DRM or how many I want on my reader then I am mad. If I can lose my library because of a change in DRM on the next rev or a new device then I am mad. If a publisher gets in a fight with a distributor and removes their books then I know with Mobipocket I lost the book if I move to a new device. Very unfair because I thought I paid for the book and not rented it.
Where are the innovators and engineers? We need a DRM that offers protection to the copyright owner but retains fair use to the customer.
Of course there are the few brave ones like O'Reilly that do sell non DRM books. Ask them for the study.
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