There are only 2 reasons to ban a play.
A. The play has an increased chance of causing serious injury, see the horse collar tackle made famous by Roy Williams.
B. The play is "cheese" and takes advantage of the rules in such a way that the offense has a clear competitve advantage over the defense, meaning the play is almost impossible to stop.
As to point A, I have seen no significant injuries resulting from this play and nobody has shown any evidence that this play in particular has a higher chance of injury than just a standard QB sneak. Thus, as of right now point A seems moot. As to point B, if the play itself was so called "unstoppable" then other teams should be able to use the same play and acheive similar results. However, this is not the case. Many teams have tried to copy this play and have had little to no success with it. Thus, it seems there is something specific Philly is doing or they just have better personnel to run the play better than most other teams.
Thus, there is currently no reason to ban this play.