I've never used this kind of business model. If the content isn't unique, you may eventually end up with a customer (or several) who found your content elsewhere for free or much cheaper. If they're vocal about their negative experience with your product, your business may be in trouble. In fact, if the content you're selling is available all over the web, you may have trouble making any sales if your business isn't already fairly established.
I don't think it's necessarily cheating anybody, but fresh content will avoid many of these problems.
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