After reading this thread I am quite amazed because I would have said without any hint of a doubt that merit selling is some kind of merit abuse and, therefore, clear reason to be banned. But, surprise! there is no rule that prohibits it and, applying the analogy, it is legit (but discouraged)

You learn new things every day. I hope this doesn't spread too much, although I suppose that vast majority of newbies want to rank up to earn some money, and not viceversa.