If developer need more time for development and money can buy it, than why not, especialy if he's getting paid for hobby and at the same time contributing to the community. If there is a necessity for some to use specific module and are willing to pay small amount for that, there is no problem. Others can wait reasonable time for donation free version.
But there is a problem, if core developers choose this model for their work, who knows what will happen. Core don't work without modules and modules don't work without core. Would module developers wait a month to get donation free version to test if their modules work with new version of the core or are they going to pay for every new release? And what about users, would they wait another month more to get free version of module? Hm, I defended AMS model above, but yet I don't know, what future will bring, if this is spread around.