This story has been around for the past few years, and is agonizingly true.
Ethics are difficult since they differ for every person. I recently met someone who thought summit registers were trash (yet, ironically had no problem signing into them), but bolting the rock faces of the Alabama Hills was OK because "it's not that pretty anyway."
(I think someone likened the ensuing discussion between us as a lion pouncing on a lamb...)
I spend about 2 minutes looking for a register when I get to a summit. Then, it's a shrug, an oh well, take a picture (right, wagga?), and find a kick-it rock to enjoy the view. If there is a register, I can smile my way through it finding friends, then adding my own tagline.
There are those who watch ebay and Craig's List to see if the registers turn up. Me, I just hope they have been taken to Bancroft in Berkeley, but I admit that's probably a naive dream.