edit: oooh, another thought: you're essentially uploading the content of the page to view it.
The important thing is that the identified resource is unambiguously identified.
There might be legitimate uses for this, right now I can't think of one. Clever hack though.
Think if it like the difference between the postal service letting you know there is a package that you can go pick up at the post office, and the postal service giving you a package at your home or work that cannot be opened until you go to the store to buy a box cutter, but you have to bring the package with you.
The first example is cheap, since you only receive a pointer or link to where the package is, but you have to do all the work to get it. The second is not cheap, since if the package was a bed from Ikea (for a random large example), the postal service (bit.ly) has to deliver the package to you, and then you have to go somewhere (hashify.me) while carrying that package in order to see what's inside.