[fxtentacle]

Kinda. You need access to a decryption key. The ones known to be leaked will be revoked, so you need one that cannot be revoked, because the financial fallout would be too painful. That's why WEB-DL rips are typically made using the DRM keys extracted out of very popular consumer TV models.

[huytersd]

So the WEB-DL rips are saved using homemade capture cards with the decryption module from popular consumer TVs since those can’t be revoked as they would brick those TVs?

Alternatively you plug into the output of the decryption module in the monitor before it hits the screen?

[fxtentacle]

Roughly yes.

I believe you can also in some instances skip the hardware capture card and instead capture the data stream out of the host's RAM.

Inside the monitor, the decryption module and the main SoC controlling the hardware are usually the same physical chip, so grabbing data there will be close to impossible.