How many of VSL's customer base are really that shady? I doubt most serious composers would want some random (or friend) to have access to their user area (passwords etc) and use their licences so that seems utterly ridiculous.
The worst part is, the more products you buy from VSL; the more loyal a customer you are, the more you have to lose if something goes wrong. How sad is that?
Not that I would do it but what do I have to loose if I give somebody access to my user area?
It's not the VSL customer base you have to worry about Simon, it's the piece of excrement thief and/or software pirate you have to worry about. They can register as a user just like you and they can purchase products and download demo licenses just like you. From VSL's point of view the risk is just too great to trust that we're all just a bunch of swell guys who would never engage in any improprieties.
Not to mention that, on occasion, a composer might want to "help a brother out." Afterall, as somebody earlier said VSL is just too overpriced. Temptation, temptation temptation.