You are less than correct on some of your assertions, especially the indispensability of JSTOR with regards to making a large database of content available, and it deserving to cover its (perceived or claimed) costs.
If this were the case, something like Wikipedia would be impossible.
"Oh!" you say, "but Wikipedia runs pledge drives every year to cover their costs!"
And this is true. But they also make their full archive (minus pictures that might have copyright ambiguity) available. It can be mirrored by anyone, and is mirrored by many. (That's why you see so many search results that are the same regurgitated WP content.)
Bottom line is that at this point, bandwidth is less costly by an order of magnitude or more than it was in 1994. Today, just about anyone could be a JSTOR. And many are doing precisely that. Perhaps you've also heard of Google Books?
The rest I won't touch, because while I regard the copyright/ownership issue moot, the fact still would seem to be that Swartz made unauthorized access to a secured computer, and that's a felony, and he's going to be punished for that, at the very least.