His motive is clearly money. He wants to get rich. That's a fine motive and he's not killing anyone or defrauding anybody (yet).
Why is it only ok to tap into a market when the legal system says it's ok? He's not even a drug dealer; drug dealers really do ruin lives.
Your argument here appears to boil down to "If you think it's sane to climb Mt. Everest, I suggest you rethink your actions. You'll probably die."
Except it's more along the lines of climbing a mountain no one has ever climbed before. Yes, you certainly have a point. He'll probably get caught and probably go to prison. But... So? It's his life to risk.
In the meantime, you've got to respect the raw determination. We'll see if he delivers. If not, then it's just a bunch of hot air. But he's onto something. The legal system is going to have to adapt to something it has never had to deal with before outside of cartels: the ability to operate a full business completely anonymously.
Even if he fails, someone else will come along and do the same thing. You want ten million dollars? Heck yeah you do. Tap into that feeling and amplify it by 100x, and that's the drive that pushes people to do this kind of thing.
Really though, as long as he's not hurting anybody I don't understand why we have a right to trash on him. He hasn't stolen anyone's money yet, and he's trying to build something new. I'd like to interview him, to be honest.
(I agree you weren't really trashing on him, just pointing out how crazy his plan is. That's true, but he's not a run-of-the-mill lunatic, which is sort of what your comments imply.)