I haven't seen any reasons on here so far. What are the reasons you have?
Here's a simple illustration:
I had adware
SpywareBot detected it
I removed it and now as a result of that detection I don't have any adware
Here's another:
Company != product
Detecting a product as spyware because the company sucks doesn't make sense. There are a lot of companies who do dodgy things but still make good products. Just look at all the lawsuits Microsoft loses every year, it doesn't stop me from using good products like VirtualPC and DirectX.
I have seen no evidence at all that SpywareBot, the product, acts in any harmful way whatsoever.
If you have that evidence I would like to see it so that I can delete it from my computer (it's already uninstalled but I still have the installer)
If there is no evidence of SpywareBot being harmful in any way it would of course mean the people who labelled it as malware are doing the exact same thing you accuse the makers of SpywareBot of doing, that being exaggerating the harmfulness of something.
The intentions may be different, but the outcome is the same. I would've hoped a legitimate company such as PepiMK (or is it Safer Networking now?) wouldn't stoop to the level of the companies they are against.