Respect to whom? Not to authors! Most of the value of a book is in the first reading and if people can read it for free why buy it? And no, lending out unlimited copies is not what libraries do.
Yes, this is artificial scarcity. Tearing down the Berne Convention, however can not be done this way and also calling heaping additional stress on authors during COVID "respectful" is a slap in the face.
I have been pirating software 1985-2004, I have been a columnist in the 1990s and learned about the new copyright law from the Hungarian copyright collecting agency and explained it to the whole country. I have been on both side of this fence for an extremely long time and I can't imagine what the IA was thinking. Risking the Wayback Machine with this is :(