Didn't he establish Wikia after he donated Wikipedia to non-profit? I see nothing bad in Wales making few bucks form Wikia after what he helped to create. The Wikipedia spending problem is a different story.
In itself, no. But there was a lot of issues and conflict in relation to how the creation of Wikia affected policy, and suddenly a lot of things that had a "home" on Wikipedia were now being pushed to Wikia for a variety of reasons, some valid, and some a lot less so.