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If the free book is not being offered under Creative Commons or other such permission to copy freely given then it can indeed be pirated. For example I don't have the right to give away copies of the University of Chicago Press book of the month just because I received them for free. Doing so would be piracy.
On the other hand it is commonly accepted that converting a webpage to ebook form for personal use is acceptable and this would include the occasional book. I personally would not feel free to give away copies of such books but would rather provide a website address. In the absence of a delibrate attempt by the copyright holder to remove the book from the web, I would feel free to copy the webpages from wayback.
However, if the rights holder giving the books away has made an deliberate attempt to remove the book from the web it seems disingenuous to claim that downloading the book though wayback is entirely ethical.
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