But it does. OVH wants to be able to brand stuff as Ubuntu. Ubuntu is unhappy about brand damage and having to deal with ovh's bug. If ovh throws money at canonical, they can hire people to deal with that.
It might not make much sense business-wise, but I don't see the problem ethically speaking. OVH is in infrigment with Canonical's branding. EIther they comply with Canonical's licensing, or they stop using the brand.