They're giving away free money -- a fair amount of it.  On the one hand they shouldn't be surprised that people take as much as possible, so boo on them for not anticipating this.  On the other hand I can't really hold it against them for not wanting to pay out huge sums to a pool that will 100% guaranteed move away once the offer is done.  They could have just pulled the offer, or blocked wafflepool's IP address, but it seems like they are trying to manage the situation without resorting to that, so I've got to give them some kudos.

And to someone's previous point, the site is nice, I still have a more positive impression of ghash.io than I did when this thing started (only heard of them in re 50%+1 attack on bitcoin and double-spending attacks).
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they are smart kids.  they knew this was going to happen.  it worked, they got a lot of advertising out of this.  but the initial promise wasn't delivered.  that to me is a bullshit move, and very hard to respect.  let say waffles decided to raise the fee without telling anyone, but just posting it on the site somewhere to "cover more server costs because i didnt expect such traffic".  it would be shady, simple as that.