This is shortsighted. If it works for you to make $45 great. But I'm not looking to make $45, I'm looking to make $4500 over several years. If securing the $45 now has the unintended effect of closing the loopholes a year sooner, that could be costing you thousands for your near-term "success".
They're losing money. Say you start with $1000 you want to pay toward your Disney vacation. By being resourceful you craft that $1000 into $1500. You now pay an actual $1500 toward your bill. You made $500. Someone lost $500. This is not a loss leader like you describe. The loss leader you describe is when someone advertises a TV at say 5% under cost. On the hopes that they can upsell you a better TV or at least sell you some accessories at 60% margin and end up being profitable on a majority of cases. Gift cards in this case are not a loss leader. We go in and specifically buy just that one gift card, at a profitable exchange, and come out of it with more cash than we started with. This is why almost all stores exclude GC-GC purchases, and if people continue to raise awareness where this still exists in a doable state, will lead to it being closed off everywhere.
This conversation has been going on for 5 years and 30,000 posts. Several of the people in here have made tens of thousands of dollars off the likes of Target, Ebay, and others. I think it's just a little out of place to step in to an established discussion and say we've been wrong all along. I welcome you to the group. If you have come to join, and save, and help, and profit with us, great! But do understand we've been thru this before.