This guy is providing everybody with a useful service! Bare with me!...

All non-registered domain names are currently sold for the same price, regardless of much value they have to potential buyers. By thinking of and buying say "weddings-central.com" for $10 and then reselling it for $10,000 he's creating valuable domain names that won't be wasted by being sold for less than they are worth.

He's basically a speculator. If he bets wrong he loses money, and he bets right he makes money and provides a useful service.