It goes farther than that: think about all of the engines that are exactly the same but electronically limited (like some CPU do).Like an automaker, where you need to buy the premium package to get the good features and good drive train in the same freaking chassis.
Would producing a smaller engine be more ethical, even if it costed more than limiting a more powerful one?
Isn’t this exactly how selling software also works (the company spends absolutely nothing to deliver its products or different versions, you’re paying for the development).
I don’t love it either but its more a psychologically annoying thing than an unethical one.