I cannot judge too harshly, since I still eat many kinds of animal. However, I never ate octopus growing up, and I learned of their intelligence before I tried it more than a few times. It was easier to "never start" than to quit. And besides, octopus is not that great and if you insist on eating seafood I find pretty much any other item to have more enjoyable texture.
Octopus is the only animal I've ever stopped eating due to ethical concerns (not that I'm against examining my relationship with other animals). That being said, it's really delicious if you get it fresh. It just so happens that it's very rare (in the US) to get fresh octopus. I liked tako nigiri and grilled octopus, Mediterranean style. The taste and texture difference between fresh and not fresh is huge though. Probably another great reason not to eat them!
I wanna say that despite being extremely intelligent for a mollusk, they are not intelligent at all compared with other animals like dophins, whales, etc, that not only can communicate with each other, but also develop a culture in their groups.
Octopus are smart for what they are, but not smart enough to think of them as being superior to pigs or cows intelligence-wise.
Some people enjoy eating live baby octopuses. To me that is an odd delicacy -but then some Americans like shucking Oysters too, so I can't be critical.
On the context of ethics, oysters are probably the safest thing from the animal kingdom to eat. They’re really the closest thing we have to a meat based plant.
Many who consider themselves vegan have no issues wasting them.