I would like to point to http://www.sciencealert.com/this-woman-has-illegally-uploaded-millions-of-journal-articles-in-an-attempt-to-open-up-science and http://bigthink.com/neurobonkers/a-pirate-bay-for-science and the sequel to that.
where it is argued that yes, this is morally perfectly fine.
Quote from the second link:
In her letter to Sweet, Elbakyan made a point that will likely come as a shock to many outside the academic community: Researchers and universities don’t earn a single penny from the fees charged by publishers such as Elsevier for accepting their work, while Elsevier has an annual income over a billion U.S. dollars. Elbakyan explains: “I would also like to mention that Elsevier is not a creator of these papers. All papers on their website are written by researchers, and researchers do not receive money from what Elsevier collects. That is very different from the music or movie industry, where creators receive money from each copy sold. But the economics of research papers is very different. Authors of these papers do not receive money. Why would they send their work to Elsevier then? They feel pressured to do this, because Elsevier is an owner of so-called "high-impact” journals. If a researcher wants to be recognized, make a career — he or she needs to have publications in such journals.”
This is the Catch-22. Why would any self-respecting researcher willingly hand over, for nothing, the copyright to their hard work to an organization that will profit from the work by making the keys prohibitively expensive to the few people who want to read it? The answer is ultimately all to do with career prospects and prestige. Researchers are rewarded in jobs and promotions for publishing in high-ranking journals such as Nature.