Certainly, but using a device not available to all players of the game so that you personally can skip around the timesink for some reason compromises the integrity of the game. There are a bevy of games within which removing the timesink component correlates to unethical behavior, because you (the hacker) are generating an advantage to yourself unavailable to other players. Many players CANNOT generate perfect IV pokemon even with the time required and are forced to make decisions (about which stats to sacrifice) that you are circumventing.
Obviously, competitor is not going to fall under that kind of umbrella, as there everyone has access to the tools required. But suggesting that the same holds true for the in-game is unacceptable.
That's the response to the devil's advocate. =) And my personal platform on why hacking is unethical. I don't have the time to get truly great in-game pokemon, what with a social life, work, and school, but I certainly wouldn't want to hack around the barriers present in the game itself.