What are Micro transactions (MTX)? are they Ethical?

Micro Transactions are fairly new in the gaming scene. Most are seen as a way for gaming companies to squeeze every last penny out of the consumer, but is that actually true?
My twitter: / joontheking1
In this video I'll be covering some of the most popular forms of micro transactions
-Loot boxes
-Cosmetics
-Advantage giving items
-Paywalls
-DLC
-Freemium game currency