Actually, Pirate Bay only has torrent links, no content at all. As for profit-making, it was a matter in the TPB case as a part of Swedish law that calculates max financial penalties. It is against their constitution to fine someone more than they can afford. The founders went to prison. The site is still up -- in Belarus. The Internet Archive had revenue of $36.7 million in 2019.
The Archive still stands because they remove items when asked and because they have responded to some lawsuits with massive takedowns. Their gaming software is ancient abandonware.
I think you misconstrued "Richard Sherman distinguished Professor of Law at Berkeley Law". Richard Sherman (deceased) was a real estate lawyer. He donated funds to create the "Richard Sherman distinguished Professor of Law at Berkeley Law" chair. He wasn't a receiver of this position.
The Internet Archives claim to be a library is a falsehood. Libraries do not lend what they do not have authorization to lend.
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