The people who inflated the mortgage-backed securities bubble also "took advantage of business opportunities". That doesn't, in my view, make them entrepreneurs; it makes them antisocial assholes.
Of course, it's no surprise that the domain squatting business is populated by similar arrogant jerks. It's not like this idea didn't occur to a lot of other people; the just recognized it as society-negative BS and went and did something useful.
A business opportunity being legal and profitable does not make it ethical.
My understanding is, the intention behind society's laws and social norms is for all legal and profitable businesses to serve the common good in some small way. What good do squatters do the world, in any way, shape, or form, whatsoever? The effect they have on the world is for good projects to be harder for people to use, by taking up all the good domains. That makes this a bug in our society, that I, at least, would appreciate being addressed.
