I don't mind it. After all, it isn't like they're making you pay for a code already included with the game. The only way you will is if you buy the game used. Don't let the included VIP code hold you back from deciding if you want the game or not. The decision is still the same. Personally, I didn't see NBA Live '10 get $40 cheaper until Game 5 or 6 of the NBA Finals. I see this trend carrying over towards future installments.
If you ask me, I would put my monies worth on NBA Elite over NBA2K. If this is the year that NBA Elite will pull an NHL '08, by all means, I don't see any harm in putting down the cash for it.