The label "glorified pirates" is a polemic, not history. The Portuguese Estado da Índia (1505–1961) was a state-directed maritime enterprise with royal charters, naval fleets, fortified factories (feitorias), treaties, and administrative structures.
What they did:
Piracy? Private actors (corso) existed, but the Crown’s armada was a naval power projecting sovereign authority—recognized by Mughals, Ottomans, and European rivals. They fought wars, signed treaties, and minted currency.
Critiques are valid: Violence, monopoly enforcement, slave trading, destruction of Arab/Swahili networks. But "pirates" implies stateless predation. Portugal was a early modern imperial state using naval force to dominate trade—brutal, yes; piratical, no.