I wonder if they're going to ask permission of all their authors first ;-) Seriously though, as long as this collection is openly available to the standard search engines I think this is a great idea that they're taking matters into their own hands.
Said the HarperCollins CEO "We didn't like being seen as Luddites," she added. "We see what's going on, and we get it. We want to be the best collaborator, but we also want to take charge of our future."
Link: WSJ.com - HarperCollins Plans to Control Its Digital Books.