No, that's literally insane by every definition of the word. They took perfectly fine, working products, and destroyed them in order to give their customers a discount. Which part of that seems "fair" to you? Imagine if a car manufacturer would give you a discount on a new car, if you took your old one to the scrapyard first - everyone would immediately how this is a huge waste of resources if the car was still working. How is this acceptable with speakers??
Other companies somehow manage without this madness fine - if you are verified as an actual customer, they give you a discount for more stuff. What usually happens then is that you either sell or give away the old device, and someone else might get into the brand and potentially purchase more devices from it as well. It's a win win for everyone. This stupid recycling thing serves no one, except like you said - people feeling "good" about recycling, which is nonsense, a fully working device should be reused first.