Honestly, some of you guys need to look at it from both perspectives.
From BMW's point of view, you can't argue what they're doing. It's a business. They're here to make money. If they can do something, anything, to make more money - you bet your ass they will. It's nothing personal, it's just the way the world works. They have built amazing M cars over the years and built its reputation from the ground up since the 70's. They're using their hard earned rep to boost their sales. What's wrong with that? Absolutely nothing. Again - this is if you look at it from their point of view.
On the other hand, you have us enthusiasts that love what the M brand used to be. The M badge was something that signified motoring excellence. And with BMW adding M badges to everything.. it's killing its credibility and its overall perceived image.