The method is nothing more than arbitrage which is nothing new but anyone using paypal needs to be aware that such payment method is reversible and you must avoid making any deals that have to do with bitcoin through paypal or you may regret it.
Yes, I also see it as arbitration, but the method has a greater risk. To be safer, we have to profit through trading or arbitration on well-known exchanges and safely use some of the available altcoins.