Clever, but seems ethically questionable. Why do the shippers care about breaking a TV? Presumably there are repercussions, such as an insurance plan. So why don't those repercussions just apply to bicycles? If they're fined for enough bikes being broken, they should probably learn that they need be more careful than they thought, right? EDIT: Toning down my choice of words.
Organizations are bad at communication. How do you disseminate that the information that "look guys, bicycles are fragile too" to ten of thousands of logistics workers? This is an awesome hack, and it's a great way to fix behavior without having to collide with bureaucracy. It's not ethically fraudulent because the shipper shouldn't be breaking anything. And I'm sure they do pay fees for what they break, and the ship…
I don't necessarily agree that a shipper shouldn't be breaking anything. I think that they should meet whatever the agreement was. If the agreement is "we'll try super hard not to break stuff" and they're clearly not holding up their side of the bargain when it comes to bikes, then sure, changing the picture is fair game. If the agreement is "we'll pay for anything that breaks", then they should determine how careful they want to be, since they're footing the bill for it. Making that determination for them by changing the picture, I think is not totally honest, unless they also have a history of not paying up.