Isn't that just expensive piracy?

How is it piracy if you bought the movie?

Because you're not allowed to break the encryption to copy it to hdd.

I am in my jurisdiction. [0]

You might not be in yours, but that doesn't make me a pirate.

[0] https://curia.europa.eu/jcms/upload/docs/application/pdf/202...

That looks similar to how it is in the US. But here it's not the copying that's disallowed, it's the breaking of the encryption to enable you to get a useful copy. So unencrypted but copyrighted material can be copied, but encrypted copyrighted material cannot. And blu-rays are all encrypted.

Illegally breaking the encryption in order to do legal things with the video does not make you a pirate.