No, but he's profiting off other people's misfortune.
Again, no one is forcing them to live there. They can come live where I do and get a three-bedroom house for $750/month, but they apparently want to live there. He gives them that chance.
I don't think he's a 'scumbag' or profiting off of others misfortune. I was able to rent a place to crash for ~$150 less per day than a hotel would have cost and I had access to a full kitchen, washer/dryer, fast internet etc, which I wouldn't have had with a hotel.
If somebody gives people of misfortune a significantly cheaper option, which has its fair tradeoffs in delivered product, while still being profitable, I don't see much of a problem.