And then it's trivial for the DRM creator to sue you under the DMCA. I also suspect that CDMs can update (this is called "renewability" in DRM newspeak).
That's the large problem here. If you wanted to get the content out, it would be more effective to obtain a HDCP master key, since that one is embedded in a lot of deployed physical devices and thus cannot be easily changed (AFAIK). A CDM in a webbrowser can be updated today and content distributors could stop using the old key tomorrow already.