Arismount, I'm no fan of the company you mention either, but their business model is neither unethical nor illegal. In states where the EMS industry is loosely regulated (the Midwest in particular) they simply take advantage of the opportunities available. I agree that the 206 is a lousy EMS platform (I'm guessing you fly an EC135 -that's more like it!).
But as Jamair mentioned, research indicates that speed is what saves patients, more so than the level of care delivered at the scene. Looking at it that way, a large rural area may be better served by two 206's than by one EC135. Interfacility transports are a different story of course. There, you would normally require more stuff than a 206 can carry.
The helicopter EMS market in the U.S. is a product of, and can not be separated from, the health care industry as a whole, which is profit-driven, values technology over therapy and emphasizes treatment over prevention. For example, there is no concerted effort to promote healthy eating habits, but gastric bypass surgery is available to almost anyone with health insurance. Similarly, there is no standard for EMS helicopters and so they are sometimes small and ill-equipped. But an EMS helicopter is available within twenty minutes or so for almost every location within the U.S. How many countries this size can make that boast?