WotC's view was that "Hey, we spent millions of dollars and countless hours working on that, and you turn around and publish it without any effort on your part."
Except as mentioned several times over the years on these boards that WOTC had said in their faq that someone could do it and, basically, dared others to do it. And, you have been here long enough to have seen those posts (IIRC, people have pointed you specifically to those quotes in the past).
Edit: In case I am mistaken and you were not one of the people directed to the faq, here is the quote
"
Q: Could I publish the whole thing?
A: Sure. If you think someone would be willing to pay for it, you're more than welcome to try."
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