There is the third option, though - don't consume the content if the terms by which it's offered aren't acceptable.

You're getting it at someone else's expense. If you're doing that and not giving the expected value[1] in return (ad view, premium sub), then GP is right. That's virtually the definition of freeloading.

I'm not saying it's right or wrong to do so - but I think it is wrong to pretend it's something else.

[1] expected value because those are the terms under which the content is made available.