I'm going to take a stab at this one and try to stay as unbiased as possible. First thing to consider here is if those sites hosting these profile pages have noteworthy domain authority. I'm not sure how many reputable sites really allow link juice to flow in profile pages as you mentioned, but if this is the case, then it's reasonable to assume this link will count as a followed linking root domain. This has, indeed, been noted as one of the most important factors in search ranking, but there are other forces at work that limit the benefit of this kind of inbound linking technique. I wouldn't call this black hat per se, put I wouldn't focus my efforts on chasing this competitor on these sites either.
Watch some webinars here and you'll learn that links that never get clicked aren't contributing a lot to your ranking or the linking site's domain authority. And a sudden massive increase in linking root domains without an increase in traffic raises red flags that someone is trying to manipulate the system, ie. engaging in black hat SEO activities. Also note that Google loves fresh content, so I'd rest easy knowing that these links will go stale at some point in the near future, especially with no good copy to entice visitors to click the link.
So instead of worrying about your competitors who are focused on short term rankings, write some good articles about your products and services and start getting the word out; build trust and extend your brand. There is so much more you can focus on that will get people to visit your site and spend money, which is the whole point of having your Internet business. So I would try not to worry about cheaters. Even if these competitors are ranking higher for the time being, I'm willing to bet they are probably not putting much energy into selling.