These are deep issues to ponder about morality, touching on Ends vs. Means, although that may be OT for HN. But Felix's ambition is somewhat noble, even if RedBull's sponsorship may not be.
For example they put the "edge of space" at 36km (it's actually usually considered to be at ~100km), there is no explanation for such gross errors except that they want to market the crap out of this.
The jump height is just one particular point that I noticed, and it was a point where they seemed to deliberately put a lot of spin on it in a couple of places:
1) They consistently called it "edge of space". It's a lot closer to an airliners flight height than the edge of space (100km).
2) Their consistent use of fish-eye lenses for the outside imagery made it seem like you can actually see the earth's curvature, conjuring up images of space-flight.
3) Whenever he talked with Kittinger on the ground, they background animation showed a rotating earth from LEO.
Together this all seems to mislead an unsuspecting viewer into believing that he jumped from somewhere a lot higher. What's wrong with being honest about it being 39km and nowhere near space?
It seems the highest a balloon ever went was 53km. SpaceShipOne went to the 100km and it took them a lot more effort. The altitude record for jet aircraft is 37,650m, this is about the same as the height he jumped from and seems be a better comparison to me.
But there are much worse (debatable) products that spend money on really shitty ad campaigns. So this isn't really bad.
I personally respect Red Bull for having found a niche (crazy adventure sports of all sorts) and making possible whole careers in these amazing sports.
At the end of the day, not a lot of people believe you NEED Red Bull to make this jump, but thousands of kids around the world are being inspired right this minute.
http://www.guardian.co.uk/business/2011/sep/26/red-bull-raci...
They also own a NASCAR, a football and an ice hockey team.
It is certainly a worthy project to be funded, with a significantly smaller moral compromise than in the case of tobacco companies.