If this person is paying 10s of thousands of dollars per month on content; they are most likely making 5-10x that on profits. Agreed; the affiliate programs should close the accounts and confiscate the profits.
The only way we will ever see this sort of thing stop is if programs refuse to pay the thiefs. As long as there exist a program willing to pay anyone; we will have our content stolen for profit. Thus do NOT support any programs who do not have strong a policy against unethical behavior. Oh and make damn sure they enforce it too.