For 99% of the world that is looking to buy wallpaper for their portable devices, I am sure they won't invest their time in trying to remove a watermark, I think even if they were that desperate and didn't want to pay a buck for it, they would just right click what they wanted and keep the lettering on the image. For the rest of the bunch, do what you must...I seen *alot* worse done, and besides it keeps me busy, and I still make a few bucks on the side, so no big deal on my part.
If he jumped off the bridge, would you follow? Oh, yeah, you would cause Monkey's don't have brains, well maybe real one's do, but your not one of those, Obviously...
hermm not sure if you would have rights to sell them brand wallpapers, I highly doubt you have permission from all those company's to distribute there brands in this way.
there are many free options offering the same thing out there but good luck with it.