Piracy has lost almost all of its finesse. Now it's just blowing stuff up, incurring little to no meaningful consequence, then collecting a couple of shiny drops; much like grinding mobs in any MMO you care to think of. It's no more refined than that. If the point of piracy is to make money then wrecks shouldn't drop anything of use. Under such a system those under attack by pirates would be more likely to 'pay' their way out of the situation.
Pretty much.