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The Ugliness of Privacy Notices
Without anticircumvention, online retailers could openly sell mod chips "to run Linux, nudge nudge wink wink."
True, anticircumvention shuts down more useful knowledge-building and economic activity than it promotes, but there is a constituency: makers of expensive games that appeal to wannabe thugs and are valuable offline, as hard-to-track infringing copies.
Without anticircumvention, you could take your own console to a local store and get the mod chip installed ("I just want to put Linux on it."), or even order a pre-modded console online. Many players would choose to give up the manufacturer's warranty and the price of the chip plus install, in exchange for unlimited access to infringing games.
I still think anticircumvention is bad public policy. If a vendor wants a locked-down platform, they should enforce it contractually, by leasing not selling the hardware, and rely on contract law.