For the same reason we dislike ebooks, is the reason we don't like this. Basically it's shitting on your own kind for profit. Even though I know that in general an IP list is worth about jack squat.
It's not right, and Cakes should be de-modded. If it was any other user (that wasn't a mod and was proven to be selling this info) the community would have run them out of here, that I can guarantee.
Cakes, you might think you don't owe the community anything, and honestly maybe you don't. However you're a mod and you're held to higher standards when it comes to daily operations. What you do on your own servers and sites is your own business, but we as members did not agree to have mods rape our info for their own personal gain.
I also keep hearing about "all these other people doing it" (like that makes it right), name names or fuck off. Who is (was) doing it? Not that I'm surprised mind you, but they will probably be run off also.
If Jon didn't actually think it was wrong, or unethical, then images in our sig from external sources would not have been disabled. Until Jon comes out and says different that point is going to be pretty hard to defend. You seem to act like you haven't been in contact with Jon since this went in motion, which is probably bullshit. I think Jon made it clear it is not acceptable to do such a thing, especially by a mod.
Do the right thing Cakes and step down as a mod. I'm not saying I'd not ever like to see you as a mod again, I'm just saying you're going to have to regain the trust of the community before you do so.