No. You think it's wrong because you THINK it promotes child abuse and encouraging people to abuse kids in real life. The thing is, loli and shota doesn't do that.
Any kind of published works, whether it be a book, a game, etc., are made with one of the three purposes: to inform, to persuade, or to entertain.
A work that was meant to inform would be something like instructional pamphlets, cookbooks, and so on.
A work that's meant to persuade would be something like Hitler's Mein Kampf (persuades the readers to hate Jews and gives reasons why they should), or an essay about why Marijuana should be legalized.
A work whose purpose is to entertain would be movies, video games, anime, and yes, hentai and eroge.
As you can see here, no matter how violent a video game is, or no matter how sexual a manga is, they are NOT written to encourage the players or the readers to actually copy the actions depicted in the work. Games, books, and such are made just for sole entertainment alone, and does not promote real crimes in any way at all. You THINK that things like violent video games or loli/shota manga promote real child abuse, but they DON'T. If the authors of loli/shota really did want you to abuse real kids, then they would be writing extremely lengthy and detailed essays about why you should abuse kids, instead of some manga that shows underage people engaging in sexual acts. If the creators of Grand Theft Auto really did want you to commit real crimes, then they would be writing a highly persuasive book or creating a persuasive documentary, instead of creating some mindless video game.
In the end, the authors of loli/shota only wanted one thing: To entertain their audiences. I can assure you that those authors are not criminals, and if they wanted to promote violence against children, then they would do something more persuasive than some un-educational comic book.
And no, wacking off to drawings is NOT the same as wacking off to real kids. Since when did drawings become the same as real people? Has the world really gone nuts? When someone is aroused by drawings of anime girls, they get aroused BY anime girls. If someone gets aroused by photographs of real girls, they get aroused BY real girls. To get to the point, a drawing and a real person is NOT the same, and will never be, because a drawing is just lines on paper (or pixels) while a real person is a REAL person.
So what that means is that if someone enjoys loli/shota hentai, they're simply a fan of hentai. They are NOT ***** unless they are sexually aroused by REAL kids. You even know what a ***** is? A ***** is an adult who is sexually attracted to children. And when I say children, I mean REAL children. Anyone who gets turned on by drawings, but not real kids is NOT a *****, since drawings are not children; they're lines on paper or colored pixels on a screen.
Also, according to your logic, it's okay to enjoy watching fictional underage people beat the living crap out of each other (such as in Naruto, where ninja kids violently beat each other up with weapons, ninjutsu, etc.), but it's not okay to enjoy watching fictional underage people engage in romance or sexual acts? Why is that? Why is underage romance and sex so vilified, while underage violence is glorified and regarded as "cool"? Can anyone explain the logic to that? To me, I personally see nothing wrong with violence or sex, as long as they're fictional. However, I don't understand why the people who think loli/shota is wrong enjoy underage violence on the other hand. So you're telling me that it's cool for fictional kids/teenagers to fight and kill each other, but it's wrong for them to love and have sex with each other? Believe me, I've already read lots of hentai manga, and in most of them, the characters have sex because they like each other and they both CONSENTED to it. So now, you're telling me that consensual sex between two fictional characters is wrong, but two fictional characters trying to kill each other is acceptable?