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No, I think you're right, that's a pure banner farm and you don't allow those.
However, I am curious about your business reasoning. Theoretically speaking, what it is about a banner farm that makes clicks and impressions there illegitimate and not worthy of payment? I mean, I have a page where I filter a bit of 404 traffic, it's close to being a banner farm and I've never put JuicyAds on it for that reason. (Yeah, I'm one of those rare wierdos who read terms of service.) But the traffic is legit, and it's unclear to me why it would be a problem for advertisers or their broker if I dumped that traffic to a banner farm instead.
I'm guessing that that answer has something to do with empirical experience. The fact that traffic from a banner farm could be theoretically legitimate is vastly outweighed by the real-world experience of traffic brokers and buyers that traffic from a banner farm is most likely to be pure and unadulterated circle-jerked crap. Am I close?
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