If someone's starving and they try to steal some food then, yeah, I'd agree that you can't really blame them. I'd say the important distinction is taking something you absolutely need compared to taking something you want, and I can't think of anything someone could download that would fall under the "need" category.
You can't blame them, but that has no bearing on whether or not it is "unethical". It's still unethical (in most cases) to take somebody else's food, even if you're doing it to feed your family. You're just willing to compromise your ethics in certain situations.
Like it or not, trade in this country is largely capitalistic, which comes with its own set of pros and cons. If we assume that a given record company actually is crooked, it's scamming its artists, being unnecessarily detrimental to them and their music, and knowingly conniving to keep a system in place that screws them over, would you say that they are earning their profits ethically? If they aren't, does it justify going "Robin Hood" on them? I don't know.
I know most people's motivations are self-serving anyway and not out of some righteous desire to fight injustice at every turn.
Just a thought though.
Also, personally, I'm not a fan of the recording industry based on what I do know, but I'm not all that familiar with it or how it came about. I'm baffled that such a seemingly disadvantageous system hasn't been uprooted by a reasonable alternative, if there haven't been a lot of corrupt pressures to keep it in place.
-J