The way I see it is the central issue of intangible, virtual, property having value is not silly. We've been here for a long time, with people actually making millions selling things like virtual real estate and items in things like "Second Life", and the very idea of DLC and microtransactions to begin with. This is simply another facet of theft and piracy since it comes down to someone taking something for free that does not belong to them.
That said, this specific issue is in of itself a touchy one, especially if the developers state ahead of time that the game is designed to be beatable without paying for anything additional. For such a claim to have weight they would have to have a clearly stated model where the game requires you to pay X amount of additional money in microtransactions to succeed beyond a certain point. If the microtransactions are being billed simply as a conveinence or time saving device (whatever the case might be), then there isn't much of an arguement being made for exploiting a glitch (which is always debatable) since that typically takes time, time which would be saved by simply swiping your credit card which is the initial intent.
I don't see this being an issue until we get to the point where games start wearing a "pay to win" label proudly as opposed to trying to talk around the issue. Their own declarations of intent usually mean it's difficult to claim theft or really "breaking" the intended system if they always intended for success to be possible without paying them anything additional through microtransactions.
That's my thoughts on the subject at any rate.
To be honest I've been much more eager to see legal action taken against gold farmers and those who purchuse currency and such outside of the intended system in MMORPGs and screw up in game economies for other players for years on end. In such cases it can be argued that what they are doing is clearly against the stated intent of the game and it's developers, and truthfully it affects far more people due to the nature of online communities, than a couple of CEOs whose personal money mattresses might be a fraction of a milimeter less thick at the end of the day. Even so, that isn't likely to ever happen or else we probably would have seen it by now.