I think the issue here is that most people work a very difficult job, some more than others but at the end of the day there's a limit to what people can do in 24 hours a day, the idea that an artist's job could be worth significantly more is morally upsetting.
I think until the culture of earning many millions of pounds a year as an individual is squashed, the feeling that it's OK to pirate wont disappear because it's difficult for people to respect others who distance themselves so far from the norm.
Take Avatar for example, the movie cost half a billion dollars to make but the profit pulled in on that was also half a billion and that's before any further Bluray or DVD sales, that's profit from watching it once and not owning it. When I say profit, that's after everyone involved in the production has been paid, that's factored into the cost of producing the movie.
Given how passively media is consumed, the amount a typical person must consume in a day vs their hourly wage and factoring in that production, whilst difficult, is a one off per product and then thanks to the miracle of digital media, can be copied and redistributed to so many and sometimes several times per person, to maximise sales with no further input on the production team's behalf, I actually feel that current media prices are outrageously high. You could make the argument that sales figure predictions are always a risk but that's what large publishers exist for, to front the capital and be big enough to absorb both loss and success to maintain an overall reasonable profit, which isn't what actually takes place.
What I'm saying doesn't ring true for all media industries or for every instance in a single industry, there are many respectable salaries out there but equally, there are many not so respectable.