Except that this site breaks the ability for visitors to contribute their own answers [1] and displays content that is often old and out of sync. It does nothing to attempt to improve upon the original site, other than obtaining a better Google ranking - and that is a dubious improvement.
This site is abiding by the letter of the license but not the spirit. Once you start defending this garbage, you let your guard down.
Jeff Atwood's intention with Stack Exchange's data dumps is to make certain (and ensure to its users) that his site will never become evil and hold all the community-contributed content hostage behind a paywall [2]. Although Jeff does not come out and argue against simple reposting of content without any added value, I frankly consider it unwanted spam that fragments a beautiful community.
[1] Unless the visitor notices enough to click the tiny and generic stackoverflow.com link, bringing us back to (hey) the original site.
[2] See http://blog.stackoverflow.com/2010/08/defending-attribution-...
Edit: for formatting