Actually what you're saying is only partly true and in the end has a zero percent chance of working. Why? Because the second part to how Google ranks are On-page factors, which you didn't touch on at all and is as or even more important than Off-page that you covered (correctly). Spreading Santorum is ranking for "Santorum" because the keyword "Santorum" is in the 1) URL, 2) Title Tag, 3) Headers and 4) Body Text.

This is necessary because Google wants to show relevant results to user searches so why would they show a site that doesn't have a single mention of RIAA or MPAA in any of its 4 main keyword relevance areas of the site? So I'm sorry to be a buzz kill but this will never ever work unless for instance the Pirate Bay were to add RIAA and MPAA, etc. to their title tags, headers, and body texts at the very least.

So you want this to work? Contact The Pirate Bay and tell them to do that. Then do the linking. It can work with enough people doing it.