I think that this is doing to happen more and more as Blender's popularity increases. I have seen this happen in other instances, especially on eBay. These rebrandings of Blender occur with varying levels of compliance with the GNU GPL ( I was quite surprised to find that you can sell a product under a different name that is supposed to be free). And while 3D Magix may be a ripoff, there are quite a few features that Blender doesn't include currently. Probably the most aggravating thing, though, is that people are being essentially cheated, and that the company has to deceive its customers in order to make any money.

Note that there is already a thread in this forum on the same topic: http://www.renderosity.com/mod/forumpro/showthread.php?thread_id=2773501

It is better to do one thing well, than to do many things and excel at nothing.