I'll chime in on this one for two reasons. I too hate the huge watermark, but I fully understand why it's there.
Even though you say people cant use a web stolen image, I've found our images on so many websites being used with our watermarks cropped out of them that it's become very frustrating. I'm not talking just a picture posted here or there, I'm talking entire images used as backgrounds on websites, and one website that is in a foriegn language so I dont even know what they're saying with the images or about them, has multiple images of ours displayed on their site with no comment to us or where they got them from.
It's not really worth my time to go tracking down each image and how it was stolen or used, but it does become pretty frustrating and I understand the huge watermarks
We shot a Rodeo one year and when we were hired to come back and shoot it again the next, we were talking to one of the participants who told us another rodeo used some of our images as their banners to advertise the event. They were telling us because they were upset that we sold them the images of them racing at the previous event without asking their permission.
When we told them we never gave them permission or even knew about it, they laughed and said "Well good, because my dad and I stole the banner and have it hung on the side of our barn."
I guess it was a huge banner hung on the side of the road that they had printed off with a stolen image off our site and just cropped the watermark out of the image
I have no idea of the quality the banner could have been, but I know it was our image they used without ever asking or giving us any money