Honestly, this kind of pisses me off. Besides perhaps accidental ionospheric probing, there isn't any science that will be gained.
Space is polluted enough as it is. You won't think KickSat was such a good idea when one tears through your chest cavity while you're on a spacewalk.
I had this exact discussion two days ago with a friend, and I tend to agree with your sentiment. That said, these are low enough that their orbits will decay in a few years. And ISS is ~400 km up (compared to 100 km LEO), so there's no risk of them hitting people.
I know I'm preaching to the choir here, but it's the principle of the matter that scares me.
As space becomes increasingly accessible and commercialized, there's going to be all kinds of novelty pitches... "Your wedding photos can be sent into space for just $99.99!!". Mankind just loves to shit all over anything within our reach.
I hate regulation, but I don't see any other option for near-Earth space.