I understand why most recording artists don't like having their output bootlegged, for profit or not.
With Van Halen, it's beyond the point to me where (presuming the band actually has legal control over the old footage and could release it should they be so inclined) if the band can't be bothered to put it out, I feel no sympathy for them when someone else pirates the stuff. If they can't be bothered to give people what they want and get paid for it (and in this case, how much effort does it really take to prepare the old footage and release it? certainly less than writing/recording a new album and touring it), well, that's their loss.
I still believe (and readily admit I have no data to base this belief on) all that old footage and audio has to be hung up in some sort of legal limbo between Van Halen, Warner Brothers and whatever ancient (probably now long defunct) production companies shot the concerts. I suppose I feel this way because if it's a case of the Van Halens just not putting the stuff out there because they can't be bothered...I suppose I can't think anyone would be that stupid. If they can remake a bunch of 35 year old demos to put out a 'new' album, they can't be too worried about old footage of their prime making them look old and creaky now...can they?