To my mind, he most ridiculous aspect of this whole endeavor is all the whining that surrounds it. Get a grip, people. Matador can do whatever the fuck they want. And despite the systemic flaws, their strategy does have an ethical dimension: they are sharing profits with actual brick-and-mortar record stores (and distros) which, as you may have noticed, are going bankrupt left and right all over the country due to the rise of the mp3 format, etc. Yeah, some stores are selling 'em on eBay, which may (or may not) defeat the purpose, but if there's a moral defect there, it's with the stores, not Matador. They can't control what they do with the copies they send 'em.
Either way, you could argue all day over the matter, but when it comes down to it, the central point is that, again, Matador/Jay can do whatever they want. And besides, the only reason anyone even cares enough to complain about it is that they are so limited. If they pressed 5000 copies of each, I'll bet half the people bitchin' about not having one wouldn't have even bothered to buy them yet. Whatever. I'm prematurely drunk. I'm goin' to a party.