I find this a little disturbing... I'm certainly not against genetic research, but something about 'making neat animals just because I can' seems wrong. It also feels a little ridiculous to be trying to make new life forms, when we can't even take care of the animals we've already got. I mean, there are only 4 white rhino's left in the entire world- humans are awful stewards of the planet.
Personally, while I can see the objections to this, I do have to think it could at least liven up this planet a bit. Evolution by itself tends to create kind of dull creatures, not like the somewhat more interesting enemies from video games or the species from Pokemon...
That said, I can only imagine the outrage if someone actually used a service like this to create real life versions of Pokemon and had them fight each other like in the games or anime. The series is controversial enough as it is, especially with lunatics like PETA...