https://craphound.com/msftdrm.txt

In DRM, the attacker is also the recipient. It’s not Alice and Bob and Carol, it’s just Alice and Bob. Alice sells Bob a DVD. She sells Bob a DVD player. The DVD has a movie on it—say, Pirates of the Caribbean—and it’s enciphered with an algorithm called CSS—Content Scrambling System. The DVD player has a CSS un-scrambler.

…

… Alice wants Bob to buy Pirates of the Caribbean from her. Bob will only buy Pirates of the Caribbean if he can descramble the CSS-encrypted VOB—video object—on his DVD player. Otherwise, the disc is only useful to Bob as a drinks-coaster. So Alice has to provide Bob—the attacker—with the key, the cipher and the ciphertext.

https://en.wikipedia.org/wiki/Analog_hole

The analog hole (also known as the analog loophole or analog gap) is a perceived fundamental and inevitable vulnerability in copy protection schemes for noninteractive works in digital formats which can be exploited to duplicate copy-protected works using analog means. Once digital information is converted to a human-perceptible (analog) form, it is a relatively simple matter to digitally recapture that analog reproduction in an unrestricted form, thereby fundamentally circumventing any and all restrictions placed on copyrighted digitally distributed work. Media publishers who use digital rights management (DRM), to restrict how a work can be used, perceive the necessity to make it visible or audible as a “hole” in the control that DRM otherwise affords them.[1]

EDIT: I don’t know if I’d say that it’s fundamental, as Wikipedia did — I can think of a couple of approaches to try and address it — but it is quite substantial.