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That DRM is easily defeated is no misconception. DRM on a book need only be defeated once, then the book can be distributed on pirate sites. It takes some skill to create the tools to remove DRM, but once they are created, anyone can use them.
Another big weakness with DRM is the analog hole. A book has to be read with human eyes. Even if there was such a thing as unbreakable encryption, someone could simply type the book in or scan it, and now they have a copy.
DRM isn't free. If you're continually creating new DRM schemes that adds expenses. If it is for a niche product, the expense per copy gets pretty high. Also, if you're continually creating new DRM schemes, then you need to make sure that all previously-supported devices can support the DRM.
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