LOL It's really not a form of cheating. Since items work on first come first serve, it's perfectly legal. If they wanted anyone to get it, they could make it so players don't block eachother in shops.
But then you'd have the problem of dozens of people standing in front of the same item all trying to buy it.
I think it's fine the way it is... although it's pretty silly if the person does it to be annoying. Then they are just digging their own social grave. Just like people that scam and stuff. Eventually these people will have no friends, or nobody that will trust them, so they will be left out.
Anyway, if Ilya bought it, more power to him. Blocking an item because you're about to buy it is one thing, blocking an item just so others can't buy it is another. Or blocking off entire areas of the store just to be annoying is pretty stupid. (like in the ring and scroll shop)