Banksy pretty much ripped off Blek Le Rat — so much of his work is completely derivative. Plus you could argue he did much of his work in the public domain. If I graffiti an image in a public place, haven’t I kind of given away copyright to it?
Given Banksy’s anti-capitalist, semi-anarchist stance, and utilization of public property for his own fame, I can’t think of any better means for him to honor himself than to allow people to rip off his work freely.
I certainly can see the case against those who misappropriate bad work to his name — artistic integrity is important. There is also nothing wrong with him wanting to make money. But I see no moral problem with selling knick knacks with banksy imagery on it.
FWIW I love his art and his moral stance. Just can’t have your cake and eat it.