It might not make sense, but that is their prerogative. I should point out that they have not ruled out making the software available to those who have the hardware. I would assume that this is coming soon.
But again, it might not. We aren't allowed to dictate what a persons time is worth. To demand uncompensated use of time is quite unethical in itself. Plus, folks being abused verbally because they refuse to give away their time for free will probably cause others to be less giving of their time/time created ideas. We're already seeing it now in the field of firefighting/EMS. 20-25 years ago, volunteer fire departments had waiting lists of people wanting to join. Then suddenly, the training requirements and certification hours began to pile up and now, most places are begging for volunteers if not already closing outright. Not that I'm saying certification is a bad thing (I was a firefighter and paramedic for many years), but now people are all over the industry news whining "People don't want to volunteer anymore". No...People will volunteer still, but we've charged them too much of their time. We've abused people's time for so long, it almost seemed like we were OWED that time. SO when the hours dry up, leadership stamps their feet and pouts and blames the person who was already giving up their free time...for not giving up more.
If mancow decides to hold onto his code and not make it available, so be it. But calling it an "unethical" move is like begging on the corner then being mad at the person when they don't give you something.