Today's television and entertainment industry is well regulated and the cable channels have adequate controls to make the inclusion of minors acceptable. A child on a reality television show is less likely to experience something traumatic than children in the general population and because they are compensated rather well there is no reason to stop including them in the industry.
Yes, it is ethical for Octomom, Nadya Suleman, to use her children as reality TV stars, because they have a story to tell. Few kids who are child performers really mind. Actually, they are so young that they probably do not even know that they are on a television show. But it pays the bills.
Nadya Suleman is denying her children basic rights to privacy before they are even old enough to understand the importance of those rights. As her children grow and experience life they will be forced to share the happiness and joy but also shame and embarrassment that growing up brings to all children. Her children will never be treated the same as other individuals whose lives were not put on TV for all to see.
No one wants to watch Octomom, Nadya Suleman, struggle and barely take care of her plethora of children, so it matters little if that is her plan. The woman shouldn't have all of those children and more than likely is not capable of taking care of them properly. She shouldn't have a reality show just because she has a whole bunch of kids.