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Its actually pretty similar how evading DRM usually works. People do not calculate the decryption key or anything, they just remove the program code which enables the DRM.
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Actually, for ebook DRM, (and DVDs and BluRay) the file content is encrypted. Someone has to discover the encryption method and then calculate the key in order to decrypt the file. The program code which enables the DRM resides on the corporate servers - not much chance of us removing it.