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I'm of the opinion that pokegen stifles the trade economy.
If hacked pokemon didn't exist, people would be more willing to exchange legendaries because they pretty much know that their value won't be lost. With hacked pokemon on GTS, it means that people horde their rare pokemon and have to gen the ones they don't have instead or risk being ripped off.
Also the community would quickly adapt. It's so easy to produce a pokemon with the right egg moves and nature and 5 IVs that even people who have no interest in breeding could get a near perfect pokemon or two from anyone who breeds them, and if they absolutely need 6 perfect IVs, it wouldn't be more than a few minutes of breeding from there. With the pokemon bank, serious breeders will be able to stock hundreds of "perfect" pokemon for whatever role and trading will be more active than ever.
