Would you say it's evil if the two get a consensual agreement?
well... there's a difference between saying something is evil and regulating it out of existence. so, in this hypothetical, i could do both... say it's evil, and allow it.
still, i would prefer that systems are developed and maintained which enable the Genius to solicit wages from the Investor in exchange for equity, much as it's done now.
likewise, if the Genius went to a Bank and wanted to borrow enough to start his business, i would prefer to see Bank take an equity stake in the business instead of taking a rent on the money... but who am I to tell them what they can and can't do.