As an academic archivist & librarian, I can attest to the incredible service Internet Archive's audio collections provide to student & faculty researchers working in a diverse array of fields. While I *strongly* doubt IA has any negative market impact to the recording industry, the positive educational value of historical sound recordings (and other archival materials) hosted by
archive.org is something I witness every single day.
Losing Internet Archive would be a tremendous blow to the global public's access to historical research materials, to education, and to the world's cultural heritage.