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Further I’d have to say, that’s actually MORE ethical than blocking ads.
Pirating via bit torrent or any indirect source. Hulu, youtube, or whatever spends $0 delivering the movie to you. Technically they spent nothing on you and their only loss is the hypothetical what you might have spent if you found it worth it.
On the other hand, adblocking… actually does cost them. They are hosting, so they are paying for the bandwidth to deliver the stream to you.
For an analogy I suppose, bittorrenting is a bit like copying recipes to cook for yourself or family and friends at home. Technically it’s illegal but it doesn’t cost them anything.
Alternatively… blocking the ads is a bit like walking into a restraunt, grabbing free bread, then dashing.