To be fair, AMD is doing the same thing. A 3800X is nothing more than a 3700X binned for slightly higher clock rates and priced $70 higher. And the same goes for 3600X compared to the 3600, though with that processor you also get a somewhat better stock cooler for your $50.
It's also worth pointing out that the 3700X is a $330 processor, so $340 (plus shipping) for a binned one isn't exactly bad. The highest-binned 3800X for $610 is kind of silly though, since you could get a 9900K with slightly better lightly-threaded performance, or a 3900X with 50% more cores for significantly better multithreaded performance for less.
And they even admit that these processors are not really a good fit for aftermarket binning, since AMD seems to have them binned to begin with, and the processors take advantage of nearly all available performance even without manual overclocking.
CPUs have been 'binned' for most of the past 30 years. What is new is the automatic out-of-the-box self-overclock/boost that takes them close to practical OC limits, eliminating most of the "overclocking headroom" some enthusiasts like so much.