Redhat puts a lot of effort into building its enterprise distro. Yeah, it's mostly out of FOSS parts, I get that, but distros are nontrivial and costly undertakings.

I've always had a bit of a problem with Centos, which as I understand takes Redhat's work, removes the proprietary parts, and redistributes for free-as-in-beer - perhaps depriving Redhat of a sale or two. It's not exactly theft, but not sporting either.

Would somebody straighten me out? Am I wrong to avoid Centos based on social principle? What does Redhat think of Centos?