Far from it. I think you vastly underestimate how many books have been published, and in what small quantities.

Estimates are around 15% of books is digitised, and less than a third of that is searchable. I’m guessing a small fraction of that is torrentable (yes that’s a word I just made up).

Not the rare, out of print, and long forgotten. And that's what's so scary about this. They're probably not paying to scan books that would otherwise end up at a landfill.