You seem to be asserting that anything is okay as long as it makes money.
Nobody has to make a website. If the only way you can think of to make money is bait-and-switch, then you can choose to do that, or you can choose to go back to the drawing board and come up with a less unpleasant business plan. If you choose the former, don't expect me to cheer because you found a way to make money, and you think that's the only thing that matters.
I agree with you. When imgur started there was a definite need. Now it's being replaced because there's a new need (caused by imgur changing the way it operates).
Also, I don't think you're going to make everyone happy as a business, and that's (probably) okay.
Nobody has to make a website. If the only way you can think of to make money is bait-and-switch, then you can choose to do that, or you can choose to go back to the drawing board and come up with a less unpleasant business plan. If you choose the former, don't expect me to cheer because you found a way to make money, and you think that's the only thing that matters.