Even though WoWScape was cashing out like crazy an amount of 88 million US dollars is just bullshit, they already have to pay the 3 million dollars of profit, and no this wont destroy the emulation community just kill the rotten apples that try to make a living with this stuff.
If you accept donation on a server you own the money should go back in making the server better, perhaps even supporting the various emulator communities/sites, not into your own pocket to buy useless crap you don't need with.