Earlier quoted context omitted.
Also the netflix catalog is not as big as people claims it is (I live in france). There are many movies missing from the 2000-2010 period (and more when you go beyond). There also are many smaller details that makes torrent more attractive, like being able to watch the movie offline, HD with low bandwidth, subtitle choice, etc. Netflix is a good step, and of course the movie industry will use it as "no excuse" argume…
Haven't the media conglomerates made it clear you pay to access the content rather than purchasing it. So pay the lowest rate you find fit the content and acquire it as you please, eg torrent + subtitles + dub that you want. Surely that's entirely consistent with their position morally?
Legally, I think they usually make a stricter claim than that: You are purchasing access to the content, but only using the method that you paid for. If you buy the DVD, you aren't licensed to rip it and play the content from files (unless you live somewhere with medium-shifting laws that provide that right).
Further, say that you own a copy in some format, and you torrent an equivalent quality copy. What they'll actually go after you for is the redistribution of tiny chunks of the file to other people in the torrent swarm, because it's easier to prove that you took part in unauthorized redistribution than to prove that you didn't have the right to access the content in the format that you torrented.