Calling Apple's policy a scam is like complaining to a record store that you lost a CD and they should replace it for free. They're not scamming anyone, they are under obligation of the copyright holders to protect their property.
If you can prove that you purchased some software, the company should have no issues replacing it, and are actually obligated to do so if it was the fault of the company (losing it is not their fault). When you fork over the money for software, you are purchasing a license, not a disc.
One of my anti-virus program discs cracked and no longer worked. After calling the company, they said they don't make that software anymore and that I would have to purchase version 2.0. After explaining to them basic licensing law, they decided they wanted to avoid legal action and gave me version 2.0 for free.
Besides converting my iTunes files to MP3, I also keep my iTunes receipts. In case of loss, they would be obligated to replacing my music (via download) because again, I purchased a license, not the 0's and 1's that were downloaded to my computer.
Apple better be careful lest they find themselves in a class action lawsuit. They fancy themselves different than Microsoft, yet they are doing the exact same thing that Microsoft did against Netscape and Sun Microsystems (makers of open license Java) some years ago.