Baiting deer is perfectly legal in a lot of places.
So is aborting/killing full term human babies.
Whoa.... Maybe not the best analogy.
Baiting often is a tool for population management. I've never done it. Dang you know how to make friends.
The point is that maybe legality isn't always the yardstick to point to in determining ethics. Population control would be far less of a problem if there weren't landowners intentionally fostering population beyond the natural carrying capacity of the land by feeding and limiting hunter access. In fact, state game managers here will tell you their biggest obstacle to proper herd management is limited access to hunters on private land.
