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DRM exists to protect the copyright. For the most part, publishers use DRM to prevent widespread sharing of their work, not to limit the individual user, which is often an unfortunate side effect. While the Digital Millennium Copyright Act prohibits the distribution of any method to circumvent DRM, removing DRM for your own private use has been looked at by the courts as fair use, so long as you own the original material.
Ethically I have no problem stripping DRM for the sake of creating a private backup of material you purchased. This is not the same as stripping DRM from a library book. But if you want to strip the DRM from Amazon books in case you decide to get a different reader, I don't think it's unethical and the courts have yet to rule against such activity.
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