"The US slaughtered native Americans to the point of extinction too (yes, I know they're not a separate species). You're not suggesting that we use 19th century standards to judge 21st century actions in a misguided attempt at cultural sensitivity, are you? I would hope we've done some learning since then. Why not use sustainability as a culturally-neutral minimum standard? Yes, people will say we need to go further than that, in the name of ethics, but it's pretty difficult to make a rational argument that we should do less than that."
Can you say with certainty that this isn't sustainable? There are a lot of whales pictured in the article but many more swimming out in the ocean still. I recall pictures of mass strandings that brought about similar feelings of "wow, that's a lot of whales." If they can continue to harvest that number of whales every year, the hunt is sustainable and by your definition, ethically okay.
"I also don't really believe that this event is about the harvesting of food for the locals any longer. That is of course "my opinion"."
Supposedly it is. I like the idea of being honest with where the meat is going instead of hiding under the cover of "scientific research" like the Japanese. While the Faroe Island Medical Officers may recommend against eating the whales, the Surgeon General also recommends against smoking. If they were being slaughtered for the sake of sport/killing animals, I would agree that this is disgusting but I see no reason to doubt the fact that these are going to be eaten.