The gymnastics are mostly about just trying to figure out whether we're bad people or not - because everyone else's favorite game is Shame the Pirate - but once you realize you're not a bad person and that you're okay with doing something illegal then it all just sort of fades into the background.
Doing illegal things makes you a bad person.
This isn't some fight against tyranny, it's theft (or illegal copying, more specifically).
Bad != illegal.
A legal system that reflects everyone's moral system 100% of the time has not been invented yet (and is likely impossible).
Illegally copying content is not one of those scenarios.
That said, its still a grey area moralistically.
I do not see a small indie developer and a large corporation in the same light as the corporation is taking advantage of the hard work of its employees to make a profit.