Copyright is neither moral nor immoral. It simply gives people who create content the ability to exercise certain property rights over that content for a certain period of time. There would be nothing immoral about abolishing copyright, but if you did then you could be sure that a lot less people would be willing to spend years writing the books you enjoy reading, or millions of dollars creating the TV shows and movies you enjoy watching.

Whether or not you think the existing copyright laws have exceeded their purpose is a completely different discussion, and one that is not at all related to this particular topic at all. Because the Internet Archive did not only violate copyright for content benefiting from whatever your opinion of excessive copyright is, they violated it for all the content they had.