Note that it's not stated anywhere yet by the mods that you can't sell/buy (s)merit points, so they aren't actually infringing any rule yet. I'm taking the first post of this thread as reference of course, not some n-th reply.
Its not that I think its wrong (check my signature). I pointed out in my first post in this thread that it would be interesting to see how long it would take for someone to game the system. It took less than a day. LOL