The Lenswork article does a good job of pointing out the different perspectives and policies with respect to "editions". But, like many ideas that seem good in the beginning, it seems that the concept of editions has become so over-parsed and weasel-interpreted that it has become largely bogus and dishonest.
Let's face it. The average buyer probably assumes that the denominator represents the total number of prints to be made in any size or any style. If they are buying 2/100, they likely ascribe a certain value to the limited number of total prints. If, however, they are actually buying 2/100 of the 11x14 selenium-toned Ilford Warm Tone semi-matte edition, only to find out there was another 100 printed on neutral tone Ilford, another 100 printed on Seagull, etc., they'd probably feel cheated. And, rightly so.
Thus, unless one clearly states that the denominator is the total prints ever to be made, the mechanism become too obvious a marketing ploy. The real moral question, of course, is whether to sell the prints sequentially, or hold 1/100 to be sold last, when the price is the highest.