What do you think of the iiNet decision?

Today Justice Cowdroy handed down judgment in the long-running iiNet litigation, completely dismissing the copyright owners’ complaint against the Perth-based ISP and ordering them to pay costs. His Honour held that iiNet did not authorise the P2P infringements simply by providing internet access, even though it may have known about them. See the summary post for more details. What’s your immediate reaction?