It's theft. You are taking income away from the rightful owner. You're stealing money, removing income, by any name it's theft. When an employee "fixes" the books at work and moves "numbers" to other accounts, you think it's not theft? Authorities would disagree. I know you're going by what's being claimed online, I've seen the arguments, by the same authorities that claim doctoring numbers in a ledger is theft.
It's ridiculous to say because it's not physical it's not theft, and I know old laws are written that way. When a film is made, is it wrong to charge to see it? When music is recorded is it wrong to charge to hear it? When a book is written, is it wrong to charge to read it?
How else are artists to make their money? If everything they make is stolen, then we will have no more films, no more recordings, no more stories, because people can't make livings anymore.
Intellectual property is being stolen, and in this day and age, that can be worth much more than any piece of physical property.