No and no.
Legally it is copyright infringement, and morally it's
still copyright infringement.
What constitutes copyright infringement?
Subject to certain defenses, it is copyright infringement for someone other than the author to do the following without the author's permission:
1. copy or reproduce the work
2. create a new work derived from the original work (for example, by translating the work into a new language, by copying and distorting the image, or by transferring the work into a new medium of expression)
3. sell or give away the work, or a copy of the work, for the first time (but once the author has done so, the right to sell or give away the item is transferred to the new owner. This is known as the "first sale" doctrine: once a copyright owner has sold or given away the work or a copy of it, the recipient or purchaser may do as she pleases with what she posesses.) 17 U.S.C. §109(a).
4. perform or display the work in public (this right does not apply to visual art) without permission from the copyright owner. 17 U.S.C. §106. It is also copyright infringement to violate the "moral rights" of an author as defined by 17 U.S.C. 106A.
Downloading copyrighted works is not copyright infringement. Selling, distributing, or displaying the work in public is copyright infringement.
If you use bittorrent, you are distributing, thus you are committing copyright infringement. If you are downloading via HTTP/HTTPS, Newsgroups, etc you are well within the law.
That said, I have no problems buying content. I want to support the people who make the content I enjoy. To this end I have bought entire seasons of shows on amazon, I have netflix, hulu, a UFC account for renting PPV, and I've even supported a kickstarter project to produce a TV show I liked (who finally is producing episodes in a 100% DRM free 1080p format!!!). I simply do not want to pay comcast for 150 channels I won't watch, I don't want to use restricted media that forces me to re-buy my content for my computer, phone, tv, or some new media. I want simple un-encumbered video files. We have accomplished this with music. I buy 100% of my music now (in fact, I both buy and use a streaming service so they get it on both ends).
So the question is then, why do I still download tv shows? Am I just feeling entitled?
The answer is no. I do not feel entitled to them. I completely understand their worth and I would be happy to buy them. In many cases, I have bought them after having downloaded them (Game of Thrones anyone?). I download for a few simple reasons.
1) To show that there is demand for these shows in these formats. Piracy of music showed there was a market for unencumbered music. Apple, amazon, and google provided a means and now music piracy is basically non-existent for normal users. With the exception of live bootlegs for a few very special bands, why would you not buy music online today?
2) Format shifting. Many of the movies I download I have already paid for. I bought star wars like twice and paid to see it in the theater, I'm not buying it again so Yoda can have a 1080p face lift. Sorry. This is probably is entitlement, but the fact is they would never get this sale from me. Their loss is zero. I also frequently download content available for free by the providers themselves, simply in a more convenient package with better quality.
I can watch topshot on hulu in 480p and ONLY on my computer. I can download topshot in 720p and watch it anywhere in about 3 minutes. Net loss to topshot? They lost nothing as I already pay for hulu. Sure I miss out on some commercials, but lets face it, no one watches hulu commercials (I'd pay $1-2 to disable ads entirely). Secondly, I can watch a LOT of tv for free OTA. Downloading a copy is akin to format shifting. It's the content they offer for free in a package I'm willing to consume.
3) The content is not for sale!!! I can't recall how many times I can't find content in the retail market. Maybe it's a old blues band, a tv show from the 80's (netflix is doing a great job filling this gap), or simply some kind of strange "You can't watch that on netflix without a physical DVD and the DVD is no longer sold in stores" bullshit. Besides, who the hell still has a DVD player??
Lastly, if the providers were paying attention they would support this business model. Direct streaming or downloading of tv shows improves viewership. TV is almost useless today without a DVR, this is the next step. Entertainment NEEDS to be able to shift around a persons life, a successful person can not shift their life around entertainment.
So to end this long post, I download content because it makes me happy. I give back to content providers as much as they will allow me to. They must be happy with the situation. I'm sure it's only a matter of time until tv and movies become akin to music. You will just give apple/amazon/google $10-15 bucks a month and can watch anything, or you can buy the show unencumbered for $0.99-5.00. I can't wait for that day to come.