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Eh, I see it as a very minor offense and I can't imagine how it could possibly hurt Kobo. I doubt they're on a "get paid every time the ad runs on an individual reader" agreement with each ad, if so - what about the people who never turn on wifi? Kobo wouldn't be making $ with them either..
And I'm not about to get on my soap box and preach about "ethics" with regard to software and electronic agreements, since in my 20 years of using computers I'm pretty certain at some point in time I've invalidated warranties and used items I paid for in ways the developer didn't intend.
There must be quite a few software saints on this message board..
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