I agree: it's a crazy strategy. And you're correct: if my bank sent my details to someone with a half-baked attempt to prevent them accessing the data they were given, I'd be getting a new bank.
But regardless of how crazy this scheme is, I don't think it justifies taking advantage of that craziness to unwrap such content.
I think it's reasonable to question the approach of banning the plugin too: the problem is the users' choice to use the plugin, not making it available. But ... when there's no justifiable use for the plugin, and the author clearly intends it to be used to view unauthorized content ... I can see that it's an attractive strategy to just ban it.
But regardless of how crazy this scheme is, I don't think it justifies taking advantage of that craziness to unwrap such content.
I think it's reasonable to question the approach of banning the plugin too: the problem is the users' choice to use the plugin, not making it available. But ... when there's no justifiable use for the plugin, and the author clearly intends it to be used to view unauthorized content ... I can see that it's an attractive strategy to just ban it.