well, the Greeks in 2004 did that in Baseball and Softball (and normally they have a high rate of naturalized athletes in all the combat sports -and even in Basketball, which is supposed to be their most beloved national discipline after football)...
so, it would have been nothing strange nor new to them...
in any case, you have to make a difference between naturalized athletes (sometimes ligitimately, sometimes just bought by the various Countries) and those with the heritage of a certain Nation...
those people are actually Greeks rather than Italians rather than from any other Country in the world...
their blood is from their respective Nation...
and this is a way stronger connection with said Nations than the always fashionable ius soli, which in most cases doesn't mean anything, just a mere stay in a place you don't even like or understand or respect in all of its cultural and social expressions...only because it's economically convenient...
taking advantage of the Countrymen/women of the Diaspora is absolutely fair to me, it's a Nation's richness that they have all the moral, ethical and legal rights to take advantage of...
I have no complaints at all if a Country wins tons of medals thanks to their men/women who have found better conditions to live and practice sport in another place but then finally choose to represent the Country of their hearts, of their Fathers, of their Grannies and so on...