I don't work in accounting, so I can't comment on that. My experience is in payment card processing (though not specifically prepaid cards) but I have had merchants sit down with me an show me their PNLs and explain why prepaid cards would be a bad idea for their business, AND I've seen merchants be declined for merchant payment processing because they have too much outstanding prepaid liability. It's not bullshit; it's a real thing.

Your argument seems to be that it's immoral of a business owner to expect their customers to understand the terms of service on a product they have purchased and to follow those terms of service. I just can't agree, again, assuming the terms of service are clear at the time of purchase (as they would be with any prepaid card that has an expiration date printed on the card.) Perhaps I have a rosier view of humanity than you do, but I don't think that most business owners initiate prepaid programs for the purpose of screwing over their customers. Valid reasons for initiating a gift card program include the fact that if someone has purchased a gift card, that money is already assured to go to you and not your competitors. Doesn't mean you aren't intending to provide the product purchased, it just means that money is now assured to you instead of the customer deciding on a whim later between spending their cash at your business or someone else's. It can also be good marketing to bring in new customers; if I've never eaten at X restaurant but someone gives me a gift card to eat there, I am more likely to try it out (well, not me specifically, I am most likely to lose the gift card, but other people may have their stuff together and actually use it.) This is why businesses sometimes sends out promotional gift cards as well. Most of the business owners that I have known want happy customers. They aren't going out of their way to eff with them and ensure they have a bad experience.