Not really.It's not unethical, it just doesn't engender competition ... which in the end is always going to make things worse for us.
If PhysX was hugely popular then some open standard would have way more impetus to get adopted. Once there was an alternative Nvidia would be the one behind if they did not support it well.
No gpu physics isn't better than nvidia PhsyX if those are the options. Until there is another viable option that AMD actually has support for it is just complaining.