Uh. I guess that's a compromise. On one hand, yeah I'm grateful for some translations, and having a giant watermark does make it clear that we should buy the official release, but on the other, it does still seem a little disrespectful to a beloved series (I say to the person who does Hungry Cat. Yeah I get the irony). My main concern was the likely lack of gifs in the official English version, so this static version DOES give more incentive to just buy the official version if neither are going to be animated.
So I guess what I'm saying is that it's better this than someone actually picking it up (which face it, was inevitable). As long as it's passable, but not too horrible, I don't think anyone's going to "snipe" this. People who want to support the author and want to buy an unvandalized version will have bought it anyway, and people who just casually like Kyuu-chan will accept this and wouldn't have bought the volumes in the first place. It's still not great but not in the worst way it could have been done