Is Traffic Equalizer ethical?

In How does Traffic Equalizer work? I described how the Traffic Equalizer system works in general, but I didn't really go into the ethics of using such a system to generate website traffic.

There's no doubt that the people who run the major search engines don't like programs and systems like Traffic Equalizer. Matt Cutts, one of Google's early employees and an activist within and without the company for clean, unaltered search engine results, always tells website owners to closely study Google's webmaster guidelines to understand what is and what is not acceptable to Google. Sites that do not follow these guidelines stand a good chance of being dropped and/or banned from Google's search index. Similar guidelines are in place at the other major search engines, though they don't seem to be as scrupulous as Google at improving search engine quality.

Programs like Traffic Equalizer (TE) "game" the search engines by creating "non-natural" content and links. Many people feel that auto-created pages like those generated by TE "pollute" search engine results. If everyone was using TE, for example, it stands to reason that the top results for most keywords would be auto-generated pages that are truly not that useful to the average searcher. This is why the search engines work so hard to remove these kinds of pages from their indexes and to return useful results to the searcher.

It's tempting to use TE to compete against established sites who have hundreds, perhaps thousands, of pages of organically-created content. Only you can decide if it's ethical or not, however.