Absolutely, since it clearly has several legal uses that I can think of, and only one illegal one:
illegal:
- thieves could use it to go and steal those bikes
legal:
- bike owners could monitor the index and know they've left their bikes unlocked so they had better go and lock it
- law enforcement could monitor those bikes because they know they are at extra risk of being stolen
- law enforcement could use the index to take the bikes in to protective custody, to return them to their owners upon presentation of proof of ownership.
How do any of these even remotely relate to file sharing? I think the media industry has learned that once something has been torrented, there's no way to go lock it up again. That's kind of the point.
illegal:
- thieves could use it to go and steal those bikes
legal:
- bike owners could monitor the index and know they've left their bikes unlocked so they had better go and lock it
- law enforcement could monitor those bikes because they know they are at extra risk of being stolen
- law enforcement could use the index to take the bikes in to protective custody, to return them to their owners upon presentation of proof of ownership.