.net was initially intended for a personal website.
.org was initially intended for an organization's website, specifically a non-profit.
Since there's no barrier to entry (i.e. anyone can register either TLD), I'd say anything goes. I don't see it as an ethical issue at all.
From a business and branding perspective, I think almost anyone would be better off with the .com version, and if you're creative, you can probably come up with a good one still. You can also still buy .com's too.
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