I am sorry, but all you saying that he got what he deserved and all the other people who did this also got what they deserve are not really thinking this through fully.
This is completely a fail on Anet's development team for not seeing this and allowing it on live. Its not like these people did some sort of hack, this was just people buying things from a vendor and doing 100% legitimate in-game stuff to them. These bans actually have a real-life cost of 60 bucks per ban for people who very well could not have known this was an exploit. Anet should have taken some other route than perma banning these accounts. Maybe they should have had better betas and found these kind of bugs before live.