It is an attempt to illustrate that it is unlikely any money in "profit" is being made by the bootleggers. As if that lessens the crime. Or I am completely wrong and it is to illustrate that profits are being made. Still a crime.
No, that is correct. It is still wrong even if nothing is charged for it. The potential loss is the sales denied to the copyright holder, not the profit that someone else has or hasn't made. Even if being given away free by the copyright holder, piracy prevents them controlling their name and brand and promoting what they want to promote. That's why the money itself isn't the entirety of the matter.
An example of the branding / messaging being subverted is the logo which implies some affiliation or endorsement. Given that Ray Franz and his wife, as I understand, still very much held Christian beliefs up to their passing then I doubt that is something that would have been given (before you even get into the likelihood based on personal character).