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The loophole counter-argument would be that I'm morally obliged to import the DVDs from Japan if I watch it fansubbed online, sort of like you and listening to music you already own on youtube. That would set me back over three hundred pounds a month given the series I burn through.
So I can't really support my own argument
Therefore I have to be honest about being a bad person
Something like 'I am a bad kid, since the age of 17 I have pirated roughly £45,000 worth of media from Japanese publishers.'
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I still think that the fact that it's not available to you in your own region lifts the cloudy murk of badness a great deal. Exorbitant prices are somewhat akin to price gouging, and I'm all for ripping off people who price gouge.