Not acceptable by who's standards? Yours? Where you live? Or the larger wider world that's out there?
Florida is pretty much the exception to the rule when it comes to Shark feeding. Most of the divers in the state are against it (about 5 to 1). Most if not all of the local environmental organisations are against it. The state government is obviously against it and the common public perception is that shark feeding puts sharks into such a frenzy that they immediately will rush to shore and attack the first swimmer or surfer they find.
Florida does have the highest occurence of shark attacks in the world, but this all happened before, during and after shark feeding. The fact that Florida is one of the largest sports fishing areas in the world which in turn (by the same rules used against direct shark feeding) attracts sharks and associates them with boats/people never seems to get put into the public domain.
While on the other side of the fence pretty much every shark conservation group outside of Florida is positive towards shark feeding in some form or other. The majority of divers outside of the US are on the whole positive towards shark feeding.
So, just so we're completely clear about this, by who's standards are you judging this 'unacceptable' practise.