Its time to save things you need to save from the internet achieve.....
(media.kotakuinaction2.win)
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If you're going run this kind of unsanctioned online library, the bare minimum requirement is that you don't lend out more copies than you own. You can't copy one book and lend it out to two people at the same time, and you can't lend out the copy without holding the original in escrow. I have seen it said that Internet Archive wasn't doing this, or else they could reasonably argue they were acting in line with existing case law (that copying media you own for backup purposes is permitted) and the spirit of the law.
Their issue is with the loaning of media. They don't make a royalty from every loan and they want every individual to purchase that media outright. They actively put a warning on every media that loaning is prohibited. That includes physical libraries too and they're now under threat too.