Yes, it is. But back to the point I made originally: this case had an infinitesimal chance of success. You can come up with a worse fact pattern for fair use, but you have to work at it. Whole copies of books, the form of copyrighted work most legible to the law, that are currently for sale in ebook form by their publishers? That was simply never going to be determined to be "fair use".

IA isn't going to shut down over this, I don't think. I don't think they'll pay any damages at all, since there's a statute that suggests damages be remitted for nonprofits.

Again: the real damage is a 2nd Cir. precedent that 1:1 CDL fails the fair use test. That's going to hurt other people. This happens often enough that there's a saying about it: "bad facts make bad law."