Design Guru/Intern...really?

I came across this job posting on Craigslist, from a SF startup backed by seasoned entrepreneurs and blue chip angel funding:

Web Designer/Front-End Guru Intern

• Demonstrable years experience creating consumer web/mobile applications • Masterful command of the Adobe Creative Suite: Photoshop, Illustrator • Sophisticated knowledge of HTML, XHTML, CSS • Experience with JavaScript, AJAX, and a JavaScript framework such as jQuery, MooTools, etc • Knowledge of browser compatibility issues and web standards • Embrace the practice of rapid prototyping, and working in a fast-paced environment where constant change is the norm and the bar for performance is set high. Sense of humor and a positive attitude are non-negotiable. Brownie points for: - Advanced Flash skills - Illustration - Experience with mobile application design

compensation ... it could easily turn into a full-time job

//

I'm wondering what people here think about this job posting; do you think it's fair/wise/viable? Is it possible that a Design guru can/would also be an intern? What would be their motivation? It is fair/wise/viable to ask an intern to do heavy lifting of this nature? Is it fair/wise/viable to ask a professional designer to be an intern? Discuss, please.