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It's pretty simple - if a Star Wars, Forgotten Realms, or Wheel of Time/etc MUDs attempted to make a profit off of their game, they would legally be required to buy a license that would allow them to make money off of the author's original works. They would also be likely to pay royalties.
As long as your goal isn't to make money off of someone else's original works without their consent, it seems that the text-gaming community does not consider it to be unethical.
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