Correct; it's called a lease. And therefor you must abide by the terms of the agreement or the lease is revoked and continued use will be in violation.
Our company has issued many legal notices in this regard for reverse engineering, code altering, patching, hacking, etc.
We've also received a few letters on occasion from legal departments in the same regard. It's business, and the way it should be.
It all comes down to a bunch of hippies who want something for nothing.
Write some software and have some cheap punks steal, patch and hack your software while you scratch your head trying to make ends meet.
In this case, it is the exact same thing. Making a cheap knock-off of a quality product to appease those who should be shopping at Dell.com.
Apple should make these guys open their wallets and defend their actions in court.