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My honest estimate is that the result would be fewer and less diverse titles overall, published less well than they are now.
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Less titles, even less well?
Our Hall of Shame is big enough as it is.
We've had it already in Spain, stores selling ebooks which were just taken from the darknet and shot to a store for profit with not the slightest improvement on the f*****g file. Publishers are under strong suspicion to do the same.