If you have a movie on VHS and you want it on blu-ray, are you entitled to a free copy?
If you have a hardcover book, are you entitled to a free paperback copy?
This is not an apples to apples comparison to the eBook situation. First off, the movie(story) may be the same, but when people purchase a movie in Blu-Ray format, it's because people pay more to receive higher quality picture which is valuable. Your not paying to see the movie again........you're paying to see the enhanced picture of the movie. Secondly, AFAIK, there's nothing legally stopping me from ripping my VHS movie onto a Blu-Ray disc for my own personal use and watching it that way if I choose to do so, but I won't receive the upgraded quality in picture. Same with a nice HardBack vs. Paperback.
You bought the content in a specific format. You are not entitled to a free copy in another format unless you do the conversion yourself.
That's just silly......why would you manually converting your eBook be the moral line in the sand here vs. downloading the same eBook that someone else converted??

Either you purchase the book and converting it to any other format is always wrong (whether you do it or download someone else's work) - or - once you bought a copy of the book, you are entitled to read that book in whatever way you want, short of stealing an actual book from a store or person.
My two cents: I could careless about the artificial format constraints that companies want you to adhere to in cases like this. I understand that if I want to upgrade my VHS copy of a movie to Blu-Ray, that I should pay for the more expensive technology because I'm getting an upgrade in the quality of my picture for the movie.
However, once I've purchased a hard copy of a book, whether I read the copy I bought or an electronic version regardless of whether I converted it or someone else did, there is no "upgrade" to reading the book. The story is not somehow made better because of where I read it........the only thing that's impacted is where and how I read what I purchased.