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Judge DredIt's a free market society. There are no rules stating that the labels must be destroyed once the capsule seal is broken. You paid for the labels when you had the cards graded or you paid for them by virture of the price you paid for an encapsulated card.
Unethical - No; bad idea - probably. If they are PSA, SGC or some other reputable label then I wouldn't do it because there's always a chance that some moron will push the envelope and use them inappropriately. Now if it's a PRO label, who cares because PRO graded cards are all fairly suspect to begin with.