to take the discussion in a different direction, the what is your opinion on corporations legally avoiding tax whilst making massive profits? Obviously legal, but morally doubtful? Or perfectly fine as the law doesn't prohibit it?
I cannot see a direct comparison with EU Compensation for travel delays, but to answer your question
a) Perfectly fine as the law does not prohibit it
AND
b) Obviously legal but morally doubful
Similarly my point is, if anyone finds it disturbing, distasteful or morally incomprehensible, then harass the law makers not those who appear to be taking advantage of what appears to be loosely framed legislation.