There is something wrong with it, because those people who write the original article spend their time writing an article only to ahve someone steal it and not put in work. These people stealing content don't aggregate they post the entire article and just put a name of the site, the traffic gets driven to the wrong site, the thieves benefit. There is currently some of these thieves on yahoo news, its sad.
How much revenue is Google going to lose if they ban all those autoblog site accounts which are sending traffic and clicks to the Adsense ads ? It doesn't make sense, the whole autoblogging universe must be making Google a lot of money, but then perhaps they ran the numbers..
Fully copyin content is not allowed in google, and they are serious about this... they have it in their policies, most people just think about clicks and money they never read adsense terms and policie!!
But I have seen auto blogs with good rankings. There are news sites that pulls content from various sources.
Just report all such sites. Because as you can see I am quoting from the official adsense blog. Google does not allow copied content and it is against their policies. Such sites are disabled as soon as they are discovered. By reporting you will be doing all the original content writers a favor.
For the better future of adsense, please report google whenever you see autoblog or spinner content sites.